ARK Invest added a large stake in Robinhood (HOOD) stock, a day after the trading platform announced plans to expand in Europe.
ARKK, ARKW and ARKF purchased a total of 1,141,046 shares of HOOD. Based on Wednesday's closing price of $8.36, the total value of the deal is $9.54 million. (CoinDesk)
Yesterday’s news, Robinhood said in its third-quarter earnings report on Tuesday: “With an experienced team, we will soon launch brokerage operations in the United Kingdom. As another step in global expansion, we also plan to launch cryptocurrency trading in the United Kingdom after launching cryptocurrency trading. EU launches cryptocurrency trading.”
After the SEC filed a lawsuit against Binance this year, Robinhood delisted all crypto-assets that the SEC identified as securities. According to financial report data, the platform’s cryptocurrency-related revenue fell 55% in the third quarter from the same period last year, recording $23 million. .