Ark Invest, led by Cathie Wood, made significant trades on Thursday, focusing on Robinhood (NASDAQ:HOOD) and Joby Aviation (NYSE:JOBY). These trades come amidst recent developments and market movements for both companies.
The Robinhood Trade
Ark Invest making a substantial purchase of Robinhood shares across multiple ETFs.The ARK Innovation ETF (BATS:ARKK) acquired 158,259 shares, while ARK Blockchain & Fintech Innovation ETF (BATS:ARKF) and ARK Next Generation Internet ETF (BATS:ARKW) added 5,267 and 20,407 shares, respectively.
This purchase follows Robinhood’s recent launch of its Platinum credit card and custodial accounts, which has generated market interest. The Platinum card, an invite-only offering, boasts a $695 annual fee and provides benefits in dining, travel, and wellness. On the day of the trade, Robinhood’s stock closed at $80.56, resulting in a total investment of approximately $14.8 million.
The Joby Aviation Trade
Ark Invest purchased Joby Aviation shares on Thursday, with the ARK Autonomous Technology & Robotics ETF (BATS:ARKQ) purchasing 60,829 shares and ARK Space & Defense Innovation ETF (BATS:ARKX) adding 33,205 shares. This move comes after Joby Aviation’s fourth-quarter earnings report, which was released in late February.
Earnings beat expectations in the quarter. The company posted a loss of 14 cents per share versus estimates for a 20-cent loss, beating forecasts by about 30%.
Revenue increased $30.78 million from the same period last year. In the prior quarter, Joby missed EPS estimates by $0.29. Joby stock ended the day at $9.61, making the trade by Wood worth $903,666. A day earlier, Ark had purchased Joby stock worth almost $2 million.
Other Key Trades:
Roku Inc. (ROKU): Sold 67,092 shares by ARKK, ARKW and ARKF.
Draftkings Inc. (DKNG): Bought 58,048 shares by ARKW.
Iridium Communications Inc (IRDM): Sold 131,400 shares by ARKQ and ARKX.