Cathie Wood’s Ark Invest Sells $5.7 Million in Robinhood Stock as Bitcoin Rise Ignites Crypto Market – Buys Nvidia Rival AMD Stock – Grayscale Bitcoin Mini Trust (BTC) Common Units of fractional undivided beneficial interest (ARCA:BTC)

Monday, Cathie Wood’s Ark Invest carried out significant transactions, the most notable being the sale of Robinhood Markets, Inc. HOOD shares spread across several ETFs.

The HOOD business: Ark Invest, led by Cathie Wood, sold 210,374 Robinhood shares. THE ETF ARK Fintech Innovation ARKF sold 14,458 shares, while the ARK Innovation ETF ARKK sold 181,900 shares. Particularly during the day, Bitcoin BTC/USD surged above $65,000, driven by bullish sentiment and liquidation of bearish bets, with market sentiment strengthening ahead of the US election and a shift from neutral to greed in market sentiment. Robinhood, a popular platform among retail traders, allows users to trade cryptocurrencies such as Bitcoin, Ethereum ETH/USDAnd Dogecoin DOGE/USD.

THE ARK Next Generation Internet ETF ARKW also participated in the sale, selling off 14,016 Robinhood shares while Ark Fintech Innovation ETF ARKF sold an additional 14,458 shares. The total value of the transaction, based on the closing price of $27.00, is approximately $5.7 million.

Robinhood has been in the spotlight recently, with the company announcing its first Investor Day scheduled for December 4, 2024. The event, which will be held in New York, will be streamed live and will provide the company with an opportunity to share his vision for the next decade. The announcement of the investor day initially caused Robinhood’s share price to soar.

Earlier in the year, Robinhood reported impressive second-quarter earnings, with a 40% year-over-year increase in revenue and a significant 161% increase in crypto revenue. The platform also reached the milestone of 2 million Gold subscribers. Despite these positive developments, Ark went on a Robinhood selling spree. It’s worth noting that Ark Invest had already sold $36 million worth of Robinhood stock earlier this month.

See also: Jim Cramer says ‘I’m worried’ about Boeing after plane maker lays off 17,000 workers amid safety and financial concerns: ‘A very shocking set of news tonight’

Other key professions:

• Advanced Micro Devices Inc. AMD the shares were purchased by ARKX. The company sold 2,400 shares worth $396,648.
• Markforged Holding Corp. (MKFG) were sold by the ARK Autonomous Technology & Robotics ETF (ARKQ) and the ARK Space Exploration & Innovation ETF (ARKX). Materialize NV (MTLS) were sold by ARKQ. Blade Air Mobility Inc (BLDE) shares were purchased by ARKQ and ARKX.

Read next:

This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal