Ark Invest buys $19 million worth of Block Inc. shares as stock hits three-week low
Quick Take Ark Invest, led by Cathie Wood, acquired an additional $19.2 million in Block Inc. stock through three of its ETFs. Block Inc.’s stock closed down 0.49% at $73.03 on Monday, its lowest closing price since July 18.
Cathie Wood's Ark Invest has purchased another $19.2 million worth of Block Inc. shares across three of its exchange-traded funds, adjusting its exposure to crypto-related stocks.
Ark Invest's latest trading disclosure shows that three of its ETFs purchased Block Inc. shares on Monday. The ARK Innovation ETF (ARKK) acquired 152,980 shares, the ARK Next Generation Internet ETF (ARKW) bought 69,526 shares, and the ARK Fintech Innovation ETF (ARKF) purchased 39,957 shares.
The move comes as Block Inc.'s stock fell 0.49% to close at $73.03 on Monday, its lowest closing price since July 18, according to Yahoo Finance data . Despite being down 4% over the past five days, the stock has gained 12% over the past month.
Meanwhile, the Jack Dorsey-led company reported strong earnings in the second quarter. The company posted $2.54 billion in gross profit, up 14% year-over-year, and raised its full-year gross profit forecast to $10.17 billion from its previous estimate of $9.96 billion, according to its earnings report released last week.
Block, which changed its name from Square, is a financial technology company with several crypto-focused business lines. Its quarterly reports indicate the firm keeps bitcoin reserves both for investment purposes and to enable bitcoin transactions for its users. It held 8,692 BTC as of the end of June.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Ethereum Staking Weekly Report December 1, 2025
🌟🌟Core Data on ETH Staking🌟🌟 1️⃣ Ebunker ETH staking yield: 3.27% 2️⃣ stETH...
The Blood and Tears Files of Crypto Veterans: Collapses, Hacks, and Insider Schemes—No One Can Escape
The article describes the loss experiences of several cryptocurrency investors, including exchange exits, failed insider information, hacker attacks, contract liquidations, and scams by acquaintances. It shares their lessons learned and investment strategies. Summary generated by Mars AI This summary was produced by the Mars AI model, and the accuracy and completeness of its generated content are still in the process of iterative improvement.
Mars Morning News | Federal Reserve officials to advance stablecoin regulatory framework; US SEC Chairman to deliver a speech at the New York Stock Exchange tonight
Federal Reserve officials plan to advance the formulation of stablecoin regulatory rules. The SEC Chair will deliver a speech on the future vision of capital markets. Grayscale will launch the first Chainlink spot ETF. A Coinbase executive has been sued by shareholders for alleged insider trading. The cryptocurrency market fear index has dropped to 23. Summary generated by Mars AI This summary was generated by the Mars AI model, and the accuracy and completeness of its content are still in the process of iterative updates.
OECD's latest forecast: The global interest rate cut cycle will end in 2026!
According to the latest forecast from the OECD, major central banks such as the Federal Reserve and the European Central Bank may have few "bullets" left under the dual pressures of high debt and inflation.
Trending news
MoreCrypto prices
More
