Ark Invest sells $10.2 million of Robinhood, buys $14 million of SpaceX shares
Cathie Wood's firm also added Archer Aviation worth about $4.965 million on July 23, extending a shift away from Robinhood as the stock slid to a new post-listing low in the prior session.
Fact Check
The primary source, The Block's official X post (@TheBlockCo, status 2080091986988790088), states exactly the figures in the claim: 97,325 Robinhood shares sold worth $10.2M, 121,384 SpaceX shares bought worth $14M, and Securitize purchased worth $507,194, all on Wednesday. The panewslab and phemex secondary reports corroborate these same numbers and cite The Block. The claim's specific $507,194 Securitize figure matches precisely, indicating direct derivation from the same source.
Summary
Cathie Wood's Ark Invest bought 121,400 shares of SpaceX worth about $14.996 million on July 23 while selling 97,300 Robinhood shares worth about $10.351 million, extending a recent reduction in the brokerage stock. The firm also purchased about $4.965 million of Archer Aviation shares. The latest trades continued Ark's rotation away from Robinhood after the stock closed down more than 6% in the previous session, reaching a new post-listing low.
Terms & Concepts
- SpaceX: A private aerospace and space technology company
- Robinhood: A retail trading platform company
- Archer Aviation: An aircraft developer focused on electric vertical takeoff and landing technology