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8/4, 2:20 PM (Source: TeleTrader)
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Robinhood continues rally, up 17% premarket

Robinhood Markets Inc.'s stock continued yesterday's rally, climbing as much as 17% in the premarket session on Wednesday.

Investor Cathie Wood's ARK Innovation ETF revealed that, as of August 4, it holds nearly 4.9 million shares of Robinhood, with a market value of almost $230 million, seemingly boosting traders' confidence in financial services company's stock.

Robinhood shares were up $17.52 at 8:10 am ET, selling for $55.03.

Breaking the News / MS