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Cathie Wood Swaps Crypto for Defense Might
31 May
Summary
- ARK Invest sold over $12 million in Robinhood shares.
- The firm purchased $16.16 million worth of Kratos Defense stock.
- Robinhood's stock surged after launching AI agents.
On May 29, ARK Invest, led by Cathie Wood, divested significant holdings in Robinhood Markets, selling shares valued at over $12 million. This transaction occurred on the same day Robinhood's stock climbed, reaching an intraday high of $94.40 after the introduction of trading-focused AI agents. Robinhood, founded in 2013, became part of the S&P 500 index in September 2025.
In a contrasting move, ARK Invest strategically acquired 252,064 shares of Kratos Defense & Security Solutions. This investment amounted to $16.16 million, positioning the firm in the defense sector. Kratos Defense & Security Solutions, a manufacturer of weapons and military equipment, serves clients including the U.S. government. Its stock closed at $64.13 on May 29, experiencing a slight dip.
