ARK Invest buys $19M of Jack Dorsey’s Block as stock tumbles to $73
ARK Invest’s latest Block purchase is its first in months, signaling a potential shift in the company’s investment strategy.
Cathie Wood’s ARK Invest has returned to purchasing shares of Jack Dorsey’s financial services company Block after a prolonged sell-off.
ARK snapped up 262,463 shares of Dorsey’s Block (XYZ) on Monday, according to a trade notification seen by Cointelegraph. With the stock closing at $73, the purchase was worth $19.2 million.
The acquisition comes with Block seeing a notable uptrend, surging 8% in the past 30 days, according to TradingView.