Several investment management firms primarily hold the stock of crypto-based companies. Cathie Wood, one of the most influential crypto personalities, has dumped a massive chunk of her Robinhood(Hood) stock holdings.
Ark Invest is one of the biggest firms that holds shares of Tesla, Coinbase Global Inc., Roku Inc., Block Inc., Zoom Video Communication Robinhood (HOOD), among other companies.
Cathie Wood has sold 1.5 million Robinhood shares from three companies owned by ARK group. When writing, Hood stock is trading at $19.08, with a growth of 22.39%.
There are speculations that HOOD stock might open below its previous closing price following the sudden dump of a massive chunk of stock in the market. According to TradingView, the yearly price target of the stock is $16.14.
The recent sale of HOOD stock is the biggest by ARK Invest since it started staking it in 2023. ARK holds 4.26% of the total HOOD’s shares, valued at $333,312,889.32.
In the last quarter of 2023, H
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