Cathie Wood's Ark Invest purchased 28,589 shares of Robinhood Markets (HOOD) on Friday. The investment was made for the ARK Innovation ETF. Robinhood stock closed up over 17% last week. This marked its third-best weekly performance in the last six months.
Analysts attribute the rally to growth in prediction markets, banking, and crypto infrastructure. Zacks Research upgraded the stock from hold to strong-buy on September 5. Retail sentiment on platforms like Stocktwits remains bullish.
Robinhood beat quarterly estimates with an EPS of $0.62. Revenue reached $1.31 billion. This represents a 32.5% increase year-over-year.