Daily Market Updates: Ark Invest buys $21 million in Block after shares fall 6.1%

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At close · Fri, Aug 7, 2026

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Ark Invest buys $21 million in Block after shares fall 6.1%

The Block stock dropped 6.1% after the company reported higher operating expenses in its latest quarter.

Reported · Written up by our desk · Market Structure

Cathie Wood’s Ark Invest bought $21 million of Block shares, following a sharp decline in the company’s stock.

The Block shares fell 6.15% on Thursday, with the move linked to rising operating expenses reported in Q2.

The company also previously cut 40% of its workforce in February, according to The Block.

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Sources

The BlockCathie Wood’s Ark Invest buys $21 million in Block as stock drops 6%

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