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Why Robinhood Stock Rocketed Higher on Wednesday

·2 min read
Why Robinhood Stock Rocketed Higher on Wednesday
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Shares of Robinhood Markets (NASDAQ: HOOD) have been on a tear since its initial public offering (IPO) offering on July 29, and the recent interest of ARK CEO Cathie Wood has sent the stock surging this week. It became known before the market opened on Wednesday that Cathie Wood bought more shares of the stock recently for the ARK Fintech Innovation ETF (NYSEMKT: ARKF). The stock has nearly doubled since its IPO.