Ark Invest Buys $21M of Block Stock After Post‑Earnings Drop

The trade signals Ark’s buy-on-pullback approach as investors zeroed in on rising operating costs despite strong quarterly results.

Overview

Ark Invest purchased 267,676 shares of Block across ARKK, ARKW and ARKF for about $21 million following Thursday’s single-session price decline.
Block reported second-quarter revenue of $6.62 billion, adjusted EPS of $1.02 (a 65% increase), and gross profit of $3.17 billion.
The stock fell about 6.15% to $79 after the report because analysts flagged rising operating expenses, with Mizuho projecting adjusted operating costs to rise from $4.48 billion in H1 to $4.56 billion in H2.
On the same day Ark also bought 20,318 SpaceX shares (~$2.3M) and 239,907 MercadoLibre shares (~$4.6M) while selling positions including 117,172 Shopify shares (about $16.9M) and 39,509 Bullish shares (about $910k).
The moves kept Block as a top holding in ARKW (about $60M, 3.51% weight) and reflect Ark’s active rebalancing under its rule to keep any single holding below 10% of a fund, a practice that can amplify buying when short-term volatility creates price gaps.