Following the trading company's poor results report, Ark Investment took advantage of the opportunity to buy Robinhood shares at a discount.

On Wednesday, Cathie Wood's ARK Invest, an investment management business focused on creative technology, took advantage of a price drop to buy over $80 million worth of Robinhood stock.

According to daily trading data, Wood's ARK bought 2.24 million shares of Robinhood across three of Ark's ETF funds, with the majority of the shares going to the flagship ARK Innovation ETF. The Innovation ETF now has 1.33 percent of its assets held by Robinhood.

The trading platform announced a 78 percent drop in crypto revenue in Q3 — from $233 million in Q2 to $51 million in Q3 — on October 27, driving the stock price below its IPO price of $38.

The stock has dropped more than -11 percent since the beginning of the week, from $39.85 on Monday, October 25, to $35.47 as of Thursday, October 28.

After the earnings announcement, analysts at JPMorgan, Goldman Sachs, Piper Sandler, Barclays, and Deutsche Bank lowered their price forecasts.

Ark sold a total of 57,106 shares of Tesla stock for $59 million earlier this week when the electric manufacturer crossed the $1 trillion valuation threshold.

Ark also purchased the dip with $60 million of Twitter stock on Wednesday, after the social media firm reported slowing user growth in its earnings report, sending the stock to drop about 11%.

More than 1 million individuals are on the waitlist for the app's crypto wallet, which is the only way to withdraw coins from the platform, giving Wood cause hope in Robinhood's success in crypto.

In early October, the trading software also launched a 24/7 support line to reduce customer service wait times and assist users with cryptocurrency investments.

Although Wood did not purchase the first Bitcoin futures ETF, she remained optimistic about the cryptocurrency. In June, Ark Invest teamed up with 21 Shares to register for its own Bitcoin ETF.