PANews reported on August 12 that, according to the latest disclosure, Ark Invest, led by Cathie Wood, has increased its holdings of Block Inc. stock through three of its ETFs, totaling approximately $19.2 million.
This increase occurred when Block Inc.'s stock price fell to $73.03, the lowest point in three weeks. Although the stock price has dropped 4% over the past five days, it has still risen 12% over the past month. In addition, Block's second-quarter financial report showed strong company earnings, with gross profit reaching $2.54 billion, a year-on-year increase of 14%, and raised the full-year gross profit forecast to $10.17 billion. Block holds a reserve of 8,692 bitcoins, which are used for investment and to support user bitcoin transactions.
