Cathie Wood’s ARK Invest Buys the Dip on Robinhood After 23% Slump

Cathie Wood’s ARK Invest made its largest purchase of Robinhood stock in six months after shares of the trading platform tumbled more than 23% over the past month. The move signals confidence in the fintech company despite recent volatility. Robinhood (HOOD) fell another 3.3% on Wednesday, adding to a steep decline that has erased billions in market value. ARK’s flagship innovation ETF added roughly 1.6 million shares, worth about $60 million, across three funds. The buy-the-dip strategy is a hallmark of Wood’s approach, betting on disruptive companies during temporary pullbacks. Robinhood’s slump comes amid broader market uncertainty and cooling retail trading activity, but ARK’s move suggests it sees long-term value in the platform’s crypto and options expansion. With this purchase, ARK now holds over 25 million shares, reinforcing its position as one of Robinhood’s largest institutional backers. Investors will watch whether this contrarian bet pays off as earnings season approaches.