Kathy Wood-Grills Hindenberg Buys Block Stock
  • Wood says Hindenberg’s recent brief report on Block was “extremely misleading.”
  • She bought more than 600,000 shares of the cryptocurrency company late last week.
  • Block stocks are trading well below 30% to their year-to-date highs at the time of writing.

Block Inc (NYSE: SQ) took a big hit last week after Hindenburg Research. clearly A short position in a cryptocurrency company – a sale Kathy Wood saw as an opportunity to increase her exposure to this stock.

How many blocks did she buy?

On Thursday, an influential investor mobilized three exchange-traded funds to buy 338,000 shares of Block Inc.

As she shared, she lambasted short selling for ‘extremely misleading’ investors twitter thread From Ark Companion Maximilian Friedrich:

All financial services companies, including banks, have encountered and combated fraud, especially during COVID. Square and Cash App are no exception, although in short reports it sounds like it.

Ark spent $16 million to buy another 263,562 shares of Block stock, which is now down more than 30% from its year-to-date high.

Wall Street bullish on block stocks

Wall Street also seems to endorse Kathy Wood. The consensus overweight rating on Brock suggests analysts view Mr. Hindenberg’s concerns as overblown.Ark’s Maximilian Friedrich his twitter thread:

Cash App may have been used for fraud during COVID, but ironically, in this instance, Cash App’s spending limits prevented criminals from cashing in more funds. may have been

Wood also increased her stake in Coinbase late last week after confirming the crypto exchange received it. Wells Notice from the U.S. Securities and Exchange Commission for possible violations of securities laws.

At the time of writing, Coinbase stock is down 20% from its high at the time of writing.

By Jules

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