Cathie Wood’s ARK Investment purchased nearly 2.45 million shares of Robinhood Markets, the beaten-down online brokerage, on Friday.
The ARK Innovation ETF (ticker: ARKK) bought 1,953,643 shares of Robinhood (HOOD) on Friday, according to the daily trades posted by the ARK funds. The ARK Next Generation Internet ETF (ARKW) purchased 230,519 shares, and the Ark Fintech Innovation ETF (ARKF) snapped up 262,938 Robinhood shares on a day when the stock traded below $10 a share but rebounded sharply to end the session up 9.7% at…