| Ticker | Status | Jurisdiction | Filing Date | CP Start | CP End | CP Loss | Deadline |
|---|
| Ticker | Case Name | Status | CP Start | CP End | Deadline | Settlement Amt |
|---|
| Ticker | Name | Date | Analyst Firm | Up/Down | Target ($) | Rating Change | Rating Current |
|---|
On Tuesday, Cathie Wood-led Ark Invest offloaded a significant amount of Block Inc (NYSE:SQ) shares amidst a downturn in Bitcoin (CRYPTO: BTC) prices.
The Block Inc Trade
Ark Invest’s decision to sell off Block shares came as a surprise to many, given the company’s strong ties to the cryptocurrency market. The sale was executed through Ark’s flagship ARK Innovation ETF (NYSE:ARKK) and ARK Next Generation Internet ETF (NYSE:ARKW) with a total of 9,437 shares sold. The value of the trade, calculated from the latest closing price of $79.32, amounted to approximately $7.5 million.
This is the second such sale of the shares of the Jack Dorsey-led company this week. On Monday, Ark sold $8.95 million worth of Block shares. It should be noted that last year Wood had come out in support of Block after the short seller Hindenburg issued an adverse report against the company.
According to a Benzinga report, the sale occurred amidst fluctuations in the cryptocurrency market, with major cryptocurrencies like Bitcoin and Ethereum trading lower. Investors have theorized that the markets had become overheated following the approval of spot ETFs.
Other Key Trades:
Read Next: Crypto Analyst Says Dogecoin Has Broken Macro Downtrend, Now Testing Support Between These Levels
Engineered by Benzinga Neuro, Edited by Shivdeep Dhaliwal
The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. Learn more.
