Cathie Woods Loads Up On Block, Dumps Tesla  

Ark Invest Buys Block’s Shares Despite Fraud Allegations Coming To Light

Cathie Wood loaded up on Block’s shares after the payment firm became short seller Hindenburg Research’s latest target.

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Three exchange traded funds backed by Wood’s firm Ark Investment Management LLC bought slightly more than 338,000 shares of Block.

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Hindenburg’s report triggered a 15% plunge in the firm’s US-listed shares.

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338,000 shares were valued at $21 million at the closing time yesterday.

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Block facilitated scammers who took advantage of government stimulus programs during the pandemic and platformed criminals, report alleges.

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Ark Invest is among the top 10 holders of Block’s shares, according to data compiled by Bloomberg.

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Cathie Wood’s firm also sold off $26 million worth Tesla shares.

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