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Cathie Wood Snaps Up Shares of Block Inc. Amid Hindenburg-Fueled Rout

Ark Investments founder and CEO Cathie Wood snapped up a huge chunk of Block Inc. (NYSE: SQ) shares while the stock price plunged nearly 15% dropping to $61.88 levels on Thursday, March 23, amid the short seller report by Hindenburg Research.

According to Ark’s daily trading data, the firm purchased more than 338,000 shares of Block on Thursday. This purchase came through three different exchange-traded funds backed by Ark Investment Management LLC. ARK Innovation ETF, Ark Fintech Innovation ETF, and ARK Next Generation Internet ETF made the purchases yesterday.

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