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ARK Invest adds 1,141,046 Robinhood shares worth $9.54 million

ARK Invest has significantly increased its holdings in Robinhood (HOOD) stock. Just the day before, the trading platform announced plans to expand in Europe. ARKK, ARKW, and ARKF purchased a total of 1,141,046 shares of HOOD. Based on Wednesday's closing price of $8.36, the total value of the transaction was $9.54 million. (CoinDesk) Yesterday, Robinhood stated in its Q3 earnings report that "with an experienced team, we will soon be launching brokerage operations in the UK. As another step in global expansion, we also plan to launch cryptocurrency trading in the UK and then in the EU." After the SEC's lawsuit against Binance this year, Robinhood removed all crypto assets deemed securities by the SEC. According to financial report data, the platform's Q3 revenue related to cryptocurrency decreased by 55% compared to the same period last year, recording $23 million.

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