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Cathie Wood's ARK Invest bought 28,589 shares of Robinhood (HOOD) worth $3.6 million on Sep. 4, despite its latest controversy with AMC
Cathie Wood's investment firm ARK Invest bought 28,589 shares of Robinhood Markets (Nasdaq: HOOD) worth approximately $3.6 million on Sep. 4. This purchase occurred as Robinhood, an e-brokerage platform popular for its equity, crypto, and stock token offerings, was involved in a controversy with AMC Entertainment Holdings (NYSE: AMC). AMC CEO Adam Aron had criticized Robinhood for offering a tokenized version of AMC stock without U.S. securities law registration and threatened legal action, which Robinhood's chief legal officer Dan Gallagher publicly defied. Robinhood's stock closed 2% lower at $122.11 on Sep. 4 following the controversy, though it had hit as high as $124.88 earlier in the week as part of a broader crypto rebound.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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