ARK Invest has resumed purchasing shares of Jack Dorsey's financial firm, Block, acquiring 262,463 shares worth approximately $19.2 million as the stock price dropped to $73. This marks a strategic shift for ARK, which had recently offloaded Block shares, including a significant sale of 279,047 shares worth about $22 million just a week prior. With a total holding of around 2.6 million Block shares worth $193 million, this new investment signals a potential turnaround after a streak of selling. Despite a 14% increase in Block's gross profit year-over-year and a reported $2.54 billion profit in Q2, the stock has faced challenges, declining nearly 7% following its earnings report and down 21% from January highs. ARK’s re-entry into Block comes amidst these turbulent market conditions, coinciding with Block's announcement of new Bitcoin banking tools for small and medium enterprises planned for late 2025.

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