Ark Invest Buys $19 Million Worth of Block Inc. Shares Amid Price Slump

Cathie Wood’s Ark Invest recently acquired a significant stake in Jack Dorsey’s company, Block Inc., buying over 262,000 shares on August 11th for approximately $19.2 million. The acquisition follows a recent price drop of 15% for Block stock, offering a favorable opportunity to purchase at a discounted rate. Ark Invest utilized three of its funds – the Ark Fintech Innovation ETF (ARKF), the Ark Next Generation Internet ETF (ARKW), and another ARKF buy – for the transaction.