{"id":65561,"date":"2022-08-09T17:52:49","date_gmt":"2022-08-09T14:52:49","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=65561"},"modified":"2025-09-06T20:39:23","modified_gmt":"2025-09-06T17:39:23","slug":"ark-invests-cathie-wood-sells-block-shares-to-boost-nvidia-stake","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/ark-invests-cathie-wood-sells-block-shares-to-boost-nvidia-stake\/","title":{"rendered":"ARK Invest’s Cathie Wood sells Block shares to boost Nvidia stake"},"content":{"rendered":"

ARK Invest’s flagship fund, the Ark Innovation ETF, liquidated<\/a> 235,489 shares of Block (formerly Square<\/a>) for more than $20.1 million to buy an additional 366,982 shares of Nvidia for $65.3 million.<\/p>\n

Estimates are based on closing prices of SQ and NVDA as of August 8.<\/p>\n

NVIDIA’s stock was added to ARK Next Generation Internet ETF (47,069), ARK Fintech Innovation ETF (30,684) and ARK Innovation ETF (289,229).<\/p>\n

NVIDIA’s market capitalisation as of the close on August 8 fell by 6.32%. The market reacted to the substantial discrepancy between actual revenue data and the analysts’ average forecast \u2014 $6.7 billion versus $8.1 billion.<\/p>\n

\n
\\\"ARK
Hourly NVDA chart on NASDAQ. Data: TradingView.<\/figcaption><\/figure>\n<\/div>\n

Earlier in April, ARK Invest liquidated its PayPal stake<\/a>. CEO Cathie Wood said the move reflected greater confidence in the prospects of Block’s Cash App.<\/p>\n

Earlier the payments company reported<\/a> a net loss of $208 million with gross profit of $1.47 billion. Block’s revenue from selling Bitcoin via the Cash App amounted to $1.79 billion.<\/p>\n

\n

The slowdown in momentum is primarily due to softer consumer demand and <\/em>Bitcoin prices<\/em><\/a>, partly linked to broader uncertainty around digital assets,<\/em> the company explained.<\/p>\n<\/blockquote>\n

In July, ARK Invest’s Cathie Wood disposed of Coinbase shares<\/a> for $75 million. The move came amid information about a SEC investigation into Coinbase’s activities<\/a>.<\/p>\n

Coinbase shares later rebounded from historical lows amid the Bitcoin price recovery and in light of news about a partnership with BlackRock.<\/p>\n

Follow ForkLog’s bitcoin news on our Telegram<\/a> \u2014 cryptocurrency news, prices and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"

ARK Invest’s flagship Ark Innovation ETF liquidated 235,489 Block shares (formerly Square) for more than $20.1 million to buy an additional 366,982 Nvidia shares for $65.3 million.<\/p>\n","protected":false},"author":1,"featured_media":65562,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1218,1294,1534],"class_list":["post-65561","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-ark-invest","tag-nvidia","tag-square"],"aioseo_notices":[],"amp_enabled":true,"views":"27","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/65561","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=65561"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/65561\/revisions"}],"predecessor-version":[{"id":65563,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/65561\/revisions\/65563"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/65562"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=65561"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=65561"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=65561"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}