Cathie Wood’s Ark Invest Adds $21M Block Stake During Slide

TL;DR

• Ark Invest bought 267,676 Block shares worth roughly $21 million after the fintech’s stock fell 6.15% to $79 on Thursday.
• Block reported $6.62 billion in quarterly revenue, $1.02 adjusted earnings per share and $3.17 billion in gross profit, but rising expenses concerned analysts.
• Ark also bought $2.3 million of SpaceX shares while selling 39,509 Bullish shares worth $910,287, showing selective positioning across its technology and crypto-related holdings during Thursday trading.

Cathie Wood’s Ark Invest increased its exposure to Block Inc. just as the bitcoin-focused fintech endured a sharp market setback. The investment firm bought 267,676 Block shares across three of its exchange-traded funds after the stock fell 6.15% on Thursday to close at $79. The timing makes the purchase particularly striking: Ark added roughly $21 million in exposure while investors were digesting fresh concerns about Block’s cost structure. The move came despite solid second-quarter numbers, creating an unusual split between improving financial performance and immediate pressure on the company’s share price.

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