On Tuesday, Cathie Wood-driven Ark Investing downloaded a significant amount of Block Inc m2 stocks in a downturn Bitcoin Bitcoin/USD prices.
Block Trading Inc
Ark Invest’s decision to sell Block shares came as a surprise to many, given the company’s strong ties to the cryptocurrency market. The sale was carried out through the Ark flagship ARK Innovation ETF ARKK AND ARK Next Generation Internet ETF ARKW with a total of 9,437 shares sold. The value of the transaction, calculated from the last closing price of $79.32, amounts to approximately $7.5 million.
This is the second such stock sale Jack Dorsey-company led this week. On Monday, Ark sold $8.95 million worth of Block shares. It should be noted that Wood came out in support of Block last year after short seller Hindenburg issued a negative report against the company.
According to a report by Benzinga, the sale occurred amid fluctuations in the cryptocurrency market, with major cryptocurrencies such as Bitcoin and Ethereum trading lower. Investors theorized that markets had overheated following the approval of spot ETFs.
Other key operations:
- Ark Invest bought shares of Modern Inc MRNA.
- The company also purchased shares of Staff Inc PSNL.
- Ark Invest sold shares of Twilio Inc TWLOwhile he purchased those of Unity Software Inc U.
Read next: Crypto Analyst Says Dogecoin Has Broken Macro Downtrend, Now Testing Support Between These Levels
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