Block Shares Climb 2.07% Despite 202nd-Ranked 520 Million Dollar Volume as ARK Invest Resumes Buying After Months of Selling

On August 12, 2025, Block (XYZ) traded with a $0.52 billion volume, a 29.64% decline from the previous day, ranking 202nd in market activity. The stock closed up 2.07%, reflecting renewed institutional interest. ARK Invest, led by Cathie Wood, resumed purchasing Block shares after months of selling, acquiring 262,463 shares for $19.2 million at $73 per share. This marked the firm’s first Block purchase since 2023, with its three ETFs—ARKK, ARKW, and ARKF—now holding 2.6 million shares collectively valued at $193 million. The move followed a prior $22 million sale of 279,047 shares in late July, underscoring a potential strategic reevaluation.

Block’s recent financial performance, including a $2.54 billion Q2 profit and 14% year-over-year gross profit growth, highlighted Cash App’s $1.5 billion contribution and 8 million Bitcoin accounts. Despite these results, shares remain 21% below January 2025 highs after a 7% post-earnings drop. The firm plans to launch Bitcoin banking tools for small businesses by late 2025, aiming to expand its fintech and crypto offerings. ARK’s return to Block follows a 15-month selling streak, with 551,834 shares sold in July alone, indicating cautious optimism about its long-term strategy.

The strategy of buying the top 500 stocks by daily trading volume and holding them for one day yielded a $2,340 profit from 2022 to the present. However, it faced a maximum drawdown of -15.3% on October 27, 2022, illustrating inherent risks despite potential gains.