Cathie Wood’s Ark Invest Adds Robinhood Shares, Eyes Coinbase
Cathie Wood’s investment firm Ark Invest has recently purchased over 42,000 shares of Robinhood Markets, following the company’s strong Q4 earnings report. This move comes after Ark Invest halted selling both Robinhood and Coinbase shares when spot Bitcoin ETFs were launched in January. The firm has been steadily accumulating Robinhood shares in recent weeks due to positive results. Robinhood’s stock price saw a 10% increase after the earnings report. Now, Ark Invest is expected to turn its attention to Coinbase, as the crypto exchange prepares to release its own earnings report.
Robinhood Surprises with Profitable Q4
Robinhood Markets reported a surprising 10% increase in revenue to $43 million compared to the previous year. This growth is attributed to higher interest income from customer loans, increased user engagement, and higher trading volumes on the platform. The company’s total Q4 revenue reached $471 million, surpassing analysts’ estimates. Earnings per share also exceeded expectations at $0.03, beating the projected $0.01 loss per share.
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