Cathie Wood's Ark Invest buys $21 million in Block as stock drops 6%

WikiBit|2026-08-07

Resumo:Ark Invest purchased about $21 million worth of Block Inc. shares on Thursday, adding 267,676 shares across three ETFs after the stock fell 6.15% to $79. The firm also bought roughly $2.3 million in SpaceX shares, which rose 6.14% following a prior-day decline tied to concerns over heavy capital spending. Block reported solid second-quarter results—revenue up 9% year-over-year to $6.62 billion, adjusted EPS up 65%, and gross profit up 25%—but Mizuho analysts flagged rising operating expenses despite a February workforce cut of 40%. Ark additionally sold 39,509 shares of crypto exchange Bullish, worth about $910,287. Block remains a significant ARKW holding at 3.51% weight.

Quick Take

Ark Invest bought $21 million worth of Block Inc. and $2.3 million worth of SpaceX shares on Thursday.
Blocks stock fell 6.15% on Thursday as the company posted rising operating expenses in Q2, despite cutting 40% of its workforce in February.

Ark Invest bought additional shares in Block Inc. (XYZ) as the stock dipped 6% on Thursday.

The investment firm's latest disclosure shows that it added 267,676 shares of the bitcoin-focused fintech company across Ark Innovation ETF (ARKK), Ark Next Generation Internet ETF (ARKW), and Ark Blockchain & Fintech Innovation ETF (ARKF).

Block's stock fell 6.15% on Thursday to close at $79 — meaning that Ark's latest purchase of the firm's shares is valued at $21 million.

The company's investment strategy does not allow an individual holding to exceed 10% of a fund's portfolio to maintain diversification within its ETFs. According to its fund disclosure, Block is the 10th-largest holding within ARKW, with a total value of $60 million and a 3.51% weight.

The Jack Dorsey-led fintech reported solid second-quarter financial results on Wednesday. Its revenue came in at $6.62 billion, up 9% year-over-year, exceeding expectations, while adjusted earnings per share came in at $1.02, up 65% year-over-year. The firm's gross profit also grew 25% to $3.17 billion.

However, analysts at Mizuho cast concerns about the company's rising operating expenses, despite cutting 40% of its workforce in February. Mizuho estimates that Block's adjusted operating expenses will rise from $4.48 billion in the first half to $4.56 billion in H2 based on the company's guidance.

SpaceX and Bullish

Meanwhile, Ark bought 20,318 shares of SpaceX across ARKK, ARK Autonomous Technology & Robotics ETF (ARKQ), ARKW, and ARK Space & Defense Innovation ETF (ARKX), worth about $2.3 million.

On Thursday, SpaceX shares rose 6.14% to close the day at $114.92, recovering from the 13.6% dip the previous day following the firm's Q2 financial results disclosure. Investors had raised concerns around the company's $18.4 billion in capital expenditure during the second quarter, a sixfold increase from the prior year.

Through ARKW, Ark also sold 39,509 shares in Bullish (BLSH), worth $910,287. The crypto exchange fell 3.36% on the New York Stock Exchange on Thursday to close at $23.04.

Isenção de responsabilidade

Os pontos de vista expressos neste artigo representam a opinião pessoal do autor e não constituem conselhos de investimento da plataforma. A plataforma não garante a veracidade, completude ou actualidade da informação contida neste artigo e não é responsável por quaisquer perdas resultantes da utilização ou confiança na informação contida neste artigo.