Ark Invest Spends $14.8M on Robinhood Shares After $695 Platinum Card Debut
Ark Invest purchased 158,259 Robinhood shares in its ARK Innovation ETF, 5,267 shares in its Fintech ETF and 20,407 in its Next Generation Internet ETF for a total of $14.8 million at a $80.56 closing price. The transaction followed Robinhood’s invite-only Platinum credit card launch with a $695 fee.
1. Ark Invest Purchases Robinhood Shares
On Thursday, Ark Invest acquired 158,259 Robinhood shares via its ARK Innovation ETF, 5,267 shares through its Blockchain & Fintech Innovation ETF, and 20,407 shares in its Next Generation Internet ETF. These purchases were executed at a closing price of $80.56 per share, totaling approximately $14.8 million.
2. Invite-Only Platinum Card Launch
Robinhood recently introduced a new invite-only Platinum credit card carrying a $695 annual fee. The card offers tiered dining, travel and wellness rewards, and its debut appears to have driven Ark Invest’s increased exposure to the company’s stock.