ARK Funds Add 99,418 Robinhood Shares After Crypto Revenue Falls
Photo: TokenPost
ARK Invest-managed ETFs bought 99,418 shares of Robinhood Markets on Wednesday, Oct. 28, after the trading platform’s third-quarter results showed cryptocurrency revenue had fallen 55% year over year. ARK Innovation ETF (ARKK) bought 69,604 shares, ARK Next Generation Technology ETF (ARKW) bought 17,699 and ARK Blockchain & Fintech Innovation ETF (ARKF) bought 12,115. Robinhood’s third-quarter results showed total net revenue rose 12% from a year earlier to $1.42 billion. Cryptocurrency revenue fell to $120 million, while event-contract revenue reached $173 million, more than six times its year-earlier level.
Source: TokenPost
