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 (NYSE: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 (NYSE:ARKK) and ARK Next Generation Internet ETF (NYSE: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 (NYSE:ACHR) and CRISPR Therapeutics AG (NASDAQ:CRSP). The fund management company purchased 163,809 Archer shares through ARKK and ARK Autonomous Technology & Robotics ETF (BATS:ARKQ). and 113,772 CRISPR shares on Monday through ARKK, and ARK Genomic Revolution ETF (BATS: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 (NASDAQ: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 (NYSE:DNA), a company known for its cell programming capabilities through ARKK and ARKG.
• 47,653 shares of Markforged Holding Corp (NYSE:MKFG) were added to Ark's holdings through ARKQ and ARK Space Exploration & Innovation ETF (BATS:ARKX).

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