Ark Invest buys $37 million worth of shares in Jack Dorsey’s Block Inc
Covered by 2 sources · 2 articles
Cathie Wood's Ark Invest has accumulated roughly $37.4 million in Block Inc. shares following a modest decline in the fintech company's stock price on Monday trading. This purchase follows an earlier significant accumulation by Ark last month, which occurred after Block released second-quarter results and raised its full-year profit guidance to $12.5 billion. The successive purchases suggest continued confidence in Jack Dorsey's fintech platform despite recent market volatility.
- Ark Invest bought $37.4 million in Block shares after a 2% trading dip, signaling opportunistic accumulation at lower prices.
- The purchase represents a second major tranche, with Ark having already built a position following Block's elevated earnings guidance last month.
- Block's raised full-year profit forecast to $12.5 billion appears to be anchoring institutional interest in the stock.
All coverage
Ark Invest adds Block Inc. and Circle shares in latest buying spree
Cathie Wood’s Ark Invest has bought about $37.4 million worth of Block Inc. shares after the Jack Dorsey-led fintech company fell nearly 2% in Monday trading. According to Ark Invest’s latest trading disclosure, the investment manager purch…
Ark Invest buys $37 million worth of shares in Jack Dorsey’s Block Inc
Last month, Ark had purchased a bulk of Block shares after its second-quarter results that raised its full-year profit forecast to $12.5 billion