[Cathie Wood 'Rebuys Robinhood Just 9 Days After Selling,' Adds $3.5 Million Position] BlockBeats News, on September 7, ARK Invest founder Cathie Wood's ARK Innovation ETF purchased 28,589 shares of Robinhood (HOOD) stock on September 4, valued at approximately $3.5 million based on the closing price of $122.11 per share that day. This marks Wood's recent move to increase her position in Robinhood after previously selling 25,009 shares on August 26. Robinhood's stock price has risen over 30% in the past month, while Bitcoin has increased approximately 23% during the same period, nearing $80,000. Deutsche Bank raised Robinhood's price target from $115 to $136 on September 4 and maintained a 'Buy' rating, citing significantly better-than-expected growth in Robinhood Chain's fee revenue. Data shows that daily revenue on the chain was still below $200,000 in mid-August but surged to $3.38 million and $4.01 million on September 1 and 2, respectively. Deutsche Bank estimates its annualized revenue run rate will exceed $100 million. As of September 4, Robinhood has become the seventh-largest holding in the ARK Innovation ETF, accounting for 4.28% of the fund's weight. Additionally, Wood recently purchased shares in Veracyte, Intellia Therapeutics, and the 3iQ Solana Staking ETF, while reducing positions in Tempus AI and Twist Bioscience. [Original Link]