cathie woodled ark investment management bought a huge stake in financial services company robinhood markets inc hood on a day when the stock corrected over 3 funds operated by ark purchased over 562800 shares of the company at an estimated valuation of over 53 million based on thursdays closing price the purchase was conducted via the ark innovation etf arkk the ark next generation internet etf arkw and the ark fintech innovation etf arkf also read how to buy ark innovation arkk etf robinhood shares have risen over 8 in the last month and have registered about 17 gains since the beginning of the year according to benzinga pro it is the 7th largest holding of arkf with a weight of 458 the company appears to be pushing the boundaries of the fintech space with its strategic acquisition of san franciscobased x1 a platform that offers a nofee credit card robinhood said it expects the final merger consideration to be approximately 95 million in cash earlier this month robinhood had declared its user metrics for may with net cumulative funded accounts coming in at 231 million up approximately 20000 compared to april 2023 the company said while customers placing trades increased in may versus april monthly active users declined to 106 million down approximately 900000 from april 2023 major sale ark offloaded over 163000 shares of sports betting company draftkings inc dkng at an estimated valuation of over 41 million based on thursdays closing price draftkings shares have risen over 130 since the beginning of this year read next bitcoin hits 30k approaches 2023 highs and gains nearly 100 since 2022 lows how far can the king of crypto go