Cathie Wood's investment firm Ark Invest purchased approximately $39.4 million worth of Robinhood (HOOD) stock, totaling 553,892 shares, through three of its exchange-traded funds (ETFs) on Wednesday. At the same time, the firm sold 243,147 shares of its own Ark 21Shares Bitcoin ETF (ARKB) from ARKW and ARKF, worth about $6.1 million. Yesterday, Robinhood's stock price fell 13.2% to $71.20, mainly due to its first-quarter earnings report showing a roughly 50% decline in cryptocurrency revenue and trading volume compared to the end of last year. (TheBlock)

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