Cathie Wood’s ARK Buys $9.1 Million in Robinhood After 23% Stock Slump
Cathie Wood’s ARK Invest purchased approximately $9.1 million worth of Robinhood Markets shares on Wednesday, October 28, 2026. The transaction marked its largest Robinhood purchase in six months. ARK acquired 99,418 shares across three exchange-traded funds, including ARKK, ARKW, and ARKF. Meanwhile, Robinhood shares fell 3.3% to $91.43, extending their one-month decline beyond 23%.
The purchase followed Robinhood’s disappointing third-quarter earnings report, which highlighted weakness in cryptocurrency trading. Crypto transaction revenue plunged 55% year over year to $120 million. However, the company generated approximately $1.42 billion in quarterly revenue, representing 12% annual growth. Robinhood also benefited from expanding prediction market activity, although weaker crypto performance weighed on investor sentiment.
ARK’s latest investment represents a notable shift in its recent trading strategy. Earlier in October, the investment firm sold approximately $47.5 million worth of Robinhood shares. Its renewed buying comes as analysts reassess the brokerage’s earnings outlook and growth prospects. The transaction signals ARK’s willingness to increase exposure following a substantial correction, despite continuing uncertainty surrounding cryptocurrency trading volumes and Robinhood’s profitability.
Why it matters
ARK's renewed investment highlights institutional interest in Robinhood despite weakening crypto revenue. Investors will monitor whether growth in prediction markets and other trading products can offset declining cryptocurrency activity.
