Ark Invest Buys $39.7M of Robinhood Shares, Cites Gold Subscription Growth

Ark Invest bought about $39.7 million of Robinhood shares after HOOD fell 13% in one day following first-quarter earnings that missed expectations. Nick Grous said trading revenue is cyclical and argued that Robinhood Gold is the more important long-term driver. Gold reached a 15.8% penetration rate among funded users in the first quarter, and 40% of new users subscribed at sign-up.

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