Ark Invest Loads Up on Robinhood as HOOD Sees Third-Best Week in Six Months
Cathie Wood's Ark Invest has been buying up shares of Robinhood Markets (HOOD) and other crypto-related assets. On Friday, ARKK purchased 28,589 HOOD shares, which made up about 0.0528% of the fund.
This comes as HOOD stock saw its third-best week in the last six months, closing up over 17%. The last time the stock posted better weekly performance was in April and May, when it rose over 31% and 28%, respectively.
Ark Invest said that some sell-side firms had raised their outlooks on Robinhood, citing growth opportunities in its prediction markets, banking, and crypto infrastructure. HOOD's event-contract revenue reached $156 million in the second-quarter results of 2026, surpassing crypto revenue of $100 million for the first time.
The firm also added that investors are becoming more confident about the role of stablecoins in decentralized finance and AI-based internet activity. This is evident from the recent rally in CRCL stock, which rose over 16% on Thursday during a broader crypto market rally.