Cathie Wood Goes Shopping For Stock of Jack Dorsey's Block — Ark Invest Bolsters Portfolio With Archer Aviation, CRISPR Shares

On Monday, Cathie Wood-led Ark Invest made a series of trades, with a significant purchase of shares in Block Inc SQ standing out.

The Block Trade

Ark Invest's acquisition of 18,574 shares of Block underscores Wood's confidence in the company led by Jack Dorsey. The trade, valued at $811,869, was made through ARK Innovation ETF ARKK and ARK Next Generation Internet ETF ARKW. Block shares closed at $43.71 on Monday.

Despite facing challenges, including a controversial report by Hindenburg Research, Wood remains bullish on Block's prospects. The purchase is seen as a reaffirmation of Ark's stance, emphasizing the fund's long-term investment strategy and belief in Block's innovative approach to financial services.

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Archer Aviation and CRISPR Therapeutics

Alongside the Block acquisition, Ark Invest also bolstered its position in Archer Aviation ACHR and CRISPR Therapeutics AG CRSP. The fund management company purchased 163,809 Archer shares through ARKK and ARK Autonomous Technology & Robotics ETF ARKQ. and 113,772 CRISPR shares on Monday through ARKK, and ARK Genomic Revolution ETF ARKG. The transactions were estimated to be worth $846,892 and $4.8 million respectively. Archer shares closed at $5.17 on Monday, while CRISPR shares ended that day’s session at $42.51.

The fund's bullish stance on flying cars is evident with the purchase of 139,858 shares of Archer Aviation, a company at the forefront of the urban air mobility revolution.

The investment in 81,413 shares of CRISPR Therapeutics, a leader in the genome editing space, aligns with Ark's focus on innovative companies. CRISPR's groundbreaking technologies hold the promise of revolutionizing medicine, making it a significant addition to Ark's portfolio.

Other Key Trades:

• Ark Invest purchased 37,340 shares of Pacific Biosciences of California PACB, a renowned name in the field of genomics through ARKK and ARKG.
• The fund also acquired 104,164 shares of Ginkgo Bioworks Holdings Inc DNA, a company known for its cell programming capabilities through ARKK and ARKG.
• 47,653 shares of Markforged Holding Corp MKFG were added to Ark's holdings through ARKQ and ARK Space Exploration & Innovation ETF ARKX.

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