Robinhood News: Ark Invest Extends Bet With More HOOD Shares

Bullish and HOOD Shares Drive Ark Invest Strategy in Robinhood News

In a recent Robinhood news, Cathie Wood's organisation has further increased its stake in HOOD stock, buying 150,908 more shares worth approximately $16.2 million.

Source: X (previously Twitter) 

The transaction, revealed in the company's most recent filing, is the third consecutive trading day Ark has increased its stake in the company.

The consistent action has made organisation one of the most significant crypto-tied holdings in Ark.

While they also ramped up its exposure to Bullish (BLSH) in recent days, Hood share is the focus of attention in this latest Robinhood news update. 

Ark Invest’s Strong Bet on Robinhood

The company dumped millions of dollars into $Hood last week. 

The new $16.2 million purchase follows the $14m worth of shares on Monday and $9m last Friday. 

Such double-barreled buys indicate firm faith in Organisation's potential to continue thriving in both stock trading and the cryptocurrency space. 

Cathie Wood's game plan demonstrates how they is looking at the organisation as not only a trading platform but more importantly as a long-term participant in the digital economy.

With increased customer base and new product releases, Hood is a core holding for this organisation.

Bullish Adds Depth to Ark’s Portfolio

The company ARK invests has also been accumulating in Bullish. 

• On August 19, they purchased 356,346 Bullish shares at an approximate price of $21.2 million with a closing price of $59.51.

• The ARK Innovation ETF currently owns over 1.16 million Bullish shares with an estimated value of $73.85 million.

This investment is a sign that they have an interest in backing exchanges that are defining the digital assets market. 

Platform Expands With New Crypto Listings

Another key aspect of this Robinhood news is the latest development from the company to add to its crypto listings.

The platform officially added SUI, the token native to the Sui blockchain created by Mysten Labs. 

The listing was originally discussed in a deleted blog post by the SUI team, but platform has since confirmed it on its site. The coin is now trading at $3.48 with a decrease of 1% in the last 24 hours. 

This move reflects the company's efforts to engage more crypto traders and catch up with the rapidly advancing blockchain industry. 

By including tokens such as SUI, the firm is indicating its desire to remain a player not just in stock trading, but in the wider digital assets space. 

Conclusion

The most recent Robinhood news reports Ark-Invest's $16.2 million Hood stock buy, marking its third day of buying. 

With new cryptocurrency listings such as SUI, the organisation is further cementing its role as an essential bridge between legacy markets and digital finance.