Veteran investor Cathie Wood once again executed one of the hottest trades on Wall Street when she trimmed her holdings in a surging crypto stock to buy a top defense stock. On May 29, Wood's
Veteran investor Cathie Wood once again executed one of the hottest trades on Wall Street when she trimmed her holdings in a surging crypto stock to buy a top defense stock.
On May 29, Wood's investment firm ARK Invest sold 144,218 shares of Robinhood Markets (Nasdaq: HOOD).
Related: Cathie Wood sends strong prediction on Bitcoin
Founded by Stanford classmates Vladimir Tenev and Baiju Bhatt in April 2013, Robinhood is an e-trading platform that has gained immense popularity due to its commission-free offerings of stocks, options, and cryptocurrencies.
The brokerage firm, which went public in July 2021, joined the S&P 500 index in September 2025.
The company's stock surged more than 11% to hit the intraday high of $94.40 on May 29 after it launched trading-focused AI agents.
The same day, ARK Invest sold more than $12 million worth of HOOD shares.
The firm also sold Teradyne, Inc. (Nasdaq: TER) shares worth $8.88 million and Intercontinental Exchange, Inc. (NYSE: ICE) shares worth $66,000 on May 29.
While Teradyne is a technology company that designs and manufactures automated test equipment (ATE) and advanced robotics, the ICE is a financial services company that operates global trading exchanges such as the New York Stock Exchange (NYSE). Both stocks fell yesterday.
On the other hand, the investment firm bought 252,064 shares of Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS) worth $16.16 million.
It is a weapons and military manufacturing company whose clients include the U.S. government. The company's stock fell 1.63% to close at $64.13 on May 29.
