Robinhood shares rise 6% following Ark Invest's increased stake by Cathie Wood
Ark Invest's Purchase of Robinhood Shares: Ark Invest CEO Cathie Wood acquired $21.3 million in Robinhood shares, increasing the stock's value by 6% and making it nearly 19% of both the Ark Innovation ETF (ARKK) and the Ark Next Generation Internet ETF (ARKW).
Robinhood's Expansion into Crypto: The investment aligns with Robinhood's aggressive expansion into the cryptocurrency market, including acquisitions like WonderFi and Bitstamp, and the development of a Layer-2 blockchain on Arbitrum.
Ark Invest's Crypto Initiatives: This move follows Ark's recent filings for new Bitcoin ETFs aimed at institutional investors, alongside increasing investments in crypto-related companies such as Coinbase, Bullish, and BitMine.
Market Reaction: Following the purchase, Robinhood shares rose 5.6% in trading and continued to gain in pre-market activity, reflecting positive investor sentiment towards the company's future in the crypto space.
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Technical Analysis for MET
Technical Sentiment Analysis for Meteora (MET) As of , Meteora (MET) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 1 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for MET stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, MET is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Meteora (MET) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0939 | 0.135 | 0.181 | 0.222 | 0.268 | 0.309 | 0.355 |
| Fibonacci | 0.135 | 0.169 | 0.189 | 0.222 | 0.256 | 0.276 | 0.309 |
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