Cathie Wood buys $3.5 million of Robinhood after nine-day pause

  • Cathie Wood bought 28,589 Robinhood shares through ARK Innovation ETF.
  • Robinhood Chain daily revenue exceeded $3 million in early September.
  • HOOD represented 4.28% of ARK Innovation ETF holdings on September 4.

Cathie Wood resumed buying Robinhood on September 4, adding 28,589 shares worth about $3.5 million through the ARK Innovation ETF after selling 25,009 shares on August 26. Robinhood shares have gained more than 30% over the past month, while Bitcoin rose about 23% and approached $80,000. Deutsche Bank raised its Robinhood price target to $136 from $115 and maintained a buy rating, citing surging Robinhood Chain fees, a blockchain transaction-fee revenue stream. The bank said daily revenue rose from below $200,000 in mid-August to above $3 million in early September and projected an annualized run rate above $100 million. HOOD was the ETF's seventh-largest holding at 4.28% on September 4. Wood also bought Veracyte, Intellia Therapeutics and 3iQ Solana Staking ETF, while reducing Tempus AI and Twist Bioscience.

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