Ark Investment Management bought $25 million of shares in Robinhood Markets .
Ark Investment Management purchased $25 million of shares in trading platform Robinhood Markets . The purchase amounts to 572,717 shares valued at about $15.5 million via the ARK Innovation ETF, and 342,346 Robinhood shares worth $9.3 million through the Ark Fintech Innovation ETF.
Prior to the latest purchase, ARKK and ARKF owned 13.2 million shares of Robinhood worth $356.74 million.
ARKK's RSI Indicator climbs out of oversold territory
The RSI Oscillator for ARKK moved out of oversold territory on May 04, 2023. This could be a sign that the stock is shifting from a downward trend to an upward trend. Traders may want to buy the stock or call options. The A.I.dvisor looked at 36 similar instances when the indicator left oversold territory. In of the 36 cases the stock moved higher. This puts the odds of a move higher at .
Technical Analysis (Indicators)
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on May 26, 2023. You may want to consider a long position or call options on ARKK as a result. In of 79 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
The Moving Average Convergence Divergence (MACD) for ARKK just turned positive on May 08, 2023. Looking at past instances where ARKK's MACD turned positive, the stock continued to rise in of 43 cases over the following month. The odds of a continued upward trend are .
ARKK moved above its 50-day moving average on May 17, 2023 date and that indicates a change from a downward trend to an upward trend.
The 10-day moving average for ARKK crossed bullishly above the 50-day moving average on May 17, 2023. This indicates that the trend has shifted higher and could be considered a buy signal. In of 12 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are .
The 50-day moving average for ARKK moved above the 200-day moving average on June 01, 2023. This could be a long-term bullish signal for the stock as the stock shifts to an upward trend.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where ARKK advanced for three days, in of 337 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Aroon Indicator entered an Uptrend today. In of 336 cases where ARKK Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
Bearish Trend Analysis
The Stochastic Oscillator has been in the overbought zone for 1 day. Expect a price pull-back in the near future.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where ARKK declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
Fundamental Analysis (Ratings)
Notable companies
Industry description
Market Cap
High and low price notable news
Volume
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
General Information
Category MidCapGrowth
| 1 Day | |||
|---|---|---|---|
| ETFs / NAME | Price $ | Chg $ | Chg % |
| PEXL | 41.38 | 0.86 | +2.11% |
| Pacer US Export Leaders ETF | |||
| TCHP | 26.87 | 0.26 | +0.98% |
| T. Rowe Price Blue Chip Growth ETF | |||
| UCYB | 28.18 | 0.08 | +0.29% |
| ProShares Ultra Nasdaq Cybersecurity | |||
| IIGD | 23.92 | -0.08 | -0.35% |
| Invesco Investment Grade Defensive ETF | |||
| EBND | 20.93 | -0.12 | -0.57% |
| SPDR® Blmbg Em Mkts Lcl Bd ETF | |||
ARKK and
Correlation & Price change
A.I.dvisor indicates that over the last year, ARKK has been closely correlated with IPO. These tickers have moved in lockstep 94% of the time. This A.I.-generated data suggests there is a high statistical probability that if ARKK jumps, then IPO could also see price increases.
| Ticker / NAME | Correlation To ARKK | 1D Price Change % | ||
|---|---|---|---|---|
| ARKK | 100% | +1.24% | ||
| IPO - ARKK | 94% Closely correlated | +1.79% | ||
| HAPY - ARKK | 91% Closely correlated | +1.88% | ||
| VXF - ARKK | 89% Closely correlated | +2.96% | ||
| QQQJ - ARKK | 88% Closely correlated | +2.13% | ||
| KOMP - ARKK | 88% Closely correlated | +2.01% | ||
More | ||||
