The Crypto Selloff Is Weighing Down Robinhood Stock, but Bridgewater Is Betting Big

Recently, Robinhood Markets (HOOD) shares took a hit as a selloff in cryptocurrencies rippled through the market. Bitcoin (BTCUSD) and other coins slumped as Bitcoin briefly touched $98.4K on Nov. 13, and HOOD stock slid about 10% on the same day. Still, big players are not giving up on Robinhood. Hedge fund Bridgewater Associates disclosed that it opened a new $115.6 million position in Robinhood in Q3. The timing is notable: Bridgewater’s buy contrasts with the recent volatility. That move tells you two ...