By Maria Armental

 

Cryptocurrency exchange FTX Chief Executive Sam Bankman-Fried and Emergent Fidelity Technologies Ltd. disclosed a roughly 7.6% stake in Robinhood Markets Inc. but said that at this point they don't intend to take any action on the investment, according to a securities filing.

Mr. Bankman-Fried and Emergent Fidelity Technologies, a company incorporated in Antigua and Barbuda, are among the largest investors in the platform that went public last year, according to FactSet.

Robinhood's stock closed Thursday up 5% at $8.56 and rose 31% to $11.20 in after-hours trading.

 

Write to Maria Armental at maria.armental@wsj.com

 

(END) Dow Jones Newswires

May 12, 2022 17:27 ET (21:27 GMT)

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