#CathieWood #paymentfororder #Robinhood
Yahoo Finance’s Brian Sozzi spoke with Ark Invests founder, CEO and CIO Cathie Wood about Robin Hood and payment for order flow.
Widely followed investor Cathie Wood remains a holder of Robinhood (HOOD) even as the threat of a clampdown on payment for order flow by regulators looms as a key risk.
The founder, CEO and CIO of Ark Invest said in an exclusive interview on Yahoo Finance Live that Robinhood is currently a 1% holding for her firm.
Wood sent the market for Robinhood’s stock into a tizzy in early August after she revealed purchases of the trading platform’s stock after a disappointing IPO in late July. Shares quickly skyrocketed to an intraday high of $85 on Aug. 4, according to Yahoo Finance Plus data as traders that hand-on every call from Wood’s firm embraced the purchase.
"We’re looking at the payment for order flow controversy. We know that chairman [Gary] Gensler at the SEC is looking at that. That’s a large percentage of Robinhood’s revenues. But we actually think that not much is going to change there because the system has been so good from an execution point of view for the end investor. So we would be surprised to see a lot of change on that front. But again, we are in a situation where we have to listen to what the SEC is saying," Wood told Yahoo Finance Live.
For more on this article please visit:
Don’t Miss: Valley of Hype: The Culture That Built Elizabeth Holmes
Watch the 2021 Berkshire Hathaway Annual Shareholders Meeting on YouTube:
Subscribe to Yahoo Finance: https://yhoo.it/2fGu5Bb
About Yahoo Finance:
At Yahoo Finance, you get free stock quotes, up-to-date news, portfolio management resources, international market data, social interaction and mortgage rates that help you manage your financial life.
Yahoo Finance Plus: With a subscription to Yahoo Finance Plus get the tools you need to invest with confidence. Discover new opportunities with expert research and investment ideas backed by technical and fundamental analysis. Optimize your trades with advanced portfolio insights, fundamental analysis, enhanced charting, and more.
To learn more about Yahoo Finance Plus please visit: https://yhoo.it/33jXYBp
Connect with Yahoo Finance:
Get the latest news: https://yhoo.it/2fGu5Bb
Find Yahoo Finance on Facebook: http://bit.ly/2A9u5Zq
Follow Yahoo Finance on Twitter: http://bit.ly/2LMgloP
Follow Yahoo Finance on Instagram: http://bit.ly/2LOpNYz
Follow Yahoo Finance Premium on Twitter: https://bit.ly/3hhcnmV