Beam

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<p>The post <a href="https://coinpedia.org/news/cathie-wood-offloads-7-million-robinhood-stock-heres-why/" rel="noopener noreferrer nofollow">Cathie Wood Offloads $7 Million Robinhood Stock, Here’s Why</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>Cathie Wood’s ARK ETFs made significant moves in their daily trades on Monday, June 10th, 2024. With a noticeable sell-off of Robinhood Markets Inc. shares and strategic purchases across various biotech and tech companies, investors are left wondering about the motives behind these decisions. Meanwhile, HOOD stock saw a 2% dip following Ark Invest’s offloading of over $7.5 million worth of shares.</p>
<h2 class="wp-block-heading" id="h-dumps-7-18m-robinhood-share">Dumps $7.18M Robinhood Share</h2>
<p>ARK ETFs, under the guidance of renowned <a href="https://coinpedia.org/news/cathie-woods-ark-invest-exits-ethereum-etf-21shares-to-lead-independently/" rel="noopener noreferrer nofollow">investor Cathie Wood</a>, made headlines when it substantial sell-off of 323,801 shares of Robinhood Markets Inc, spread across ARKK, ARKW, and ARKF funds.&nbsp;</p>
<p>This offloading resulted in a cash inflow of approximately $7,181,906, marking it as the largest transaction of the day.</p>
<h3 class="wp-block-heading" id="h-ark-investment-purchases">ARK Investment Purchases</h3>
<p><a href="https://coinpedia.org/crypto-live-news/ark-invest-withdraws-from-eth-etf-application/" rel="noopener noreferrer nofollow">ARK’s recent investment</a> moves highlight its ongoing bullish stance on biotech firms. They acquired 58,363 shares of Arcturus Therapeutics through the ARKG ETF, investing $1,857,110. This follows a pattern observed last Friday, indicating a growing position in Arcturus Therapeutics. Additionally, ARK modestly increased holdings in Beam Therapeutics Inc., adding 797 shares valued at $18,498 through the ARKK ETF.&nbsp;</p>
<p>On the other hand, Intellia Therapeutics Inc. received an inflow of capital from ARK, with 46,828 shares purchased across ARKK and ARKG ETFs, totaling $1,064,400. This highlights ARK’s long-term confidence in gene editing companies.</p>
<p>However, not all companies saw increased holdings. Exact Sciences Corp faced a sell-off, with ARK selling 100,687 shares across ARKK and ARKG ETFs, totaling $4,322,492.</p>
<h2 class="wp-block-heading" id="h-hood-stock-price-drops">HOOD Stock Price Drops</h2>
<p><a href="https://coinpedia.org/news/cathie-woods-ark-investment-management-offloads-12m-in-coinbase-shares-amid-coins-surge/" rel="noopener noreferrer nofollow">Following the dumping of ARK’s</a> Robinhood share, the stock price fell by 2.13% to $22.92 However, it’s worth noting that on Monday, the stock saw a 5.6% increase, closing at $23.50.<br><br>Meanwhile, ARK’s active management strategy and shifting positions highlight its interest in biotechnology stocks and strategic divestment from select healthcare and tech companies.</p>

Cathie Wood Offloads $7 Million Robinhood Stock, Here’s Why

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