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 Stochastic Oscillator remains in oversold zone for 8 days
The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an uptrend is expected.
Technical Analysis (Indicators)
Bullish Trend Analysis
The RSI Indicator points to a transition from a downward trend to an upward trend -- in cases where ARKK's RSI Indicator exited the oversold zone, of 39 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where ARKK advanced for three days, in of 334 cases, the price rose further within the following month. The odds of a continued upward trend are .
ARKK may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
Bearish Trend Analysis
The Momentum Indicator moved below the 0 level on April 02, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on ARKK as a result. In of 77 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
ARKK moved below its 50-day moving average on April 02, 2024 date and that indicates a change from an upward trend to a downward trend.
The 10-day moving average for ARKK crossed bearishly below the 50-day moving average on April 05, 2024. This indicates that the trend has shifted lower and could be considered a sell signal. In of 11 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .
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 .
The Aroon Indicator for ARKK entered a downward trend on April 24, 2024. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Fundamental Analysis (Ratings)
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Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
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Category MidCapGrowth