Ark Invest Capitalizes on Robinhood Decline While Trimming Airbnb Exposure
Cathie Wood's Ark Invest seized the opportunity to acquire $12.4 million in Robinhood shares as the stock declined following disappointing quarterly results. Simultaneously, the firm reduced its Airbnb position by selling over 259,000 shares.
Robinhood Markets experienced an 8.20% stock decline to $71.51 following mixed fourth-quarter earnings, missing revenue expectations while exceeding profit forecasts. Despite the decline, analysts maintain a 'Buy' consensus with an average price target of $142, citing potential growth from prediction markets and international expansion. Ark Invest capitalized on the weakness by purchasing $12.4 million in Robinhood shares.
Concurrently, Ark reduced its Airbnb stake by selling 259,652 shares across multiple funds following Airbnb's earnings report, which showed strong revenue but disappointing earnings per share. Bitmine Immersion Technologies saw modest gains of 1.81% to $20.85, benefiting from Ethereum price movements, with Ark completing a $4.2 million transaction. The market demonstrates significant volatility across technology and investment platforms.
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