Ark Invest Acquires Stake in Block Inc

VERA Brief

AI-generated. Grounded in the article and its cited sources.

Ark Invest purchased $37 million in shares of Block Inc. This investment followed Block's recent positive second-quarter earnings report and an increased full-year profit forecast.

Key facts

• Ark Invest announced a purchase of $37 million in shares of Block Inc.
• Block Inc. was formerly known as Square and is led by Jack Dorsey.
• The investment was made following Block's second-quarter financial results.
• Block recently raised its full-year profit forecast to $12.5 billion.
• Ark Invest's prior purchase of Block shares also occurred subsequent to the release of the company's second-quarter earnings.