Cathie Wood re-buys Robinhood after 9-day sell-off, adding $3.5 million position

Odaily Planet Daily News: Cathie Wood has re-bought Robinhood (HOOD) after a 9-day pause, adding 28,589 shares via the ARK Innovation ETF on September 4, valued at approximately $3.5 million. She had previously sold 25,009 shares on August 26.

Robinhood has been performing strongly recently, with its stock price climbing over 30% in the past month. During the same period, Bitcoin rose about 23% and is approaching $80,000. On September 4, Deutsche Bank raised its price target from $115 to $136, maintaining a "Buy" rating, driven by explosive growth in Robinhood Chain fee revenue — daily revenue jumped from under $200,000 in mid-August to over $3 million in early September. Deutsche Bank projects the annualized run rate will exceed $100 million.

As of September 4, HOOD has become the seventh-largest holding in the ARK Innovation ETF, with a weight of 4.28%. During the same period, Wood also bought shares of Veracyte, Intellia Therapeutics, and the 3iQ Solana Staking ETF, while reducing positions in Tempus AI and Twist Bioscience.