{"id":19147,"date":"2023-03-26T17:59:27","date_gmt":"2023-03-26T17:59:27","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/cathie-wood-grills-hindenburg-and-buys-block-shares\/"},"modified":"2023-03-26T17:59:27","modified_gmt":"2023-03-26T17:59:27","slug":"cathie-wood-grills-hindenburg-and-buys-block-shares","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/cathie-wood-grills-hindenburg-and-buys-block-shares\/","title":{"rendered":"Cathie Wood grills Hindenburg and buys Block shares"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/178803539_m_normal_none-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/178803539_m_normal_none-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/178803539_m_normal_none-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/178803539_m_normal_none-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>Wood says Hindenburg\u2019s recent short report on Block was \u2018wildly misleading\u2019.<\/li>\n<li>She bought more than 600,000 shares of the crypto company late last week.<\/li>\n<li>Block shares are down well over 30% versus their year-to-date high at writing.<\/li>\n<\/ul>\n<p>Block Inc (NYSE: SQ) was hit hard last week after Hindenburg Research <a href=\"https:\/\/hindenburgresearch.com\/block\/\" target=\"_blank\" rel=\"noopener\">revealed<\/a> a short position in the crypto company \u2013 a sell-off that Cathie Wood saw as an opportunity to expand her exposure to this stock.<\/p>\n<h2>How many Block shares did she buy?<\/h2>\n<p>On Thursday, the influential investor mobilized three of her exchange-traded funds to load up on 338,000 shares of Block Inc.<\/p>\n<p>She grilled the short seller for \u201cwildly misleading\u201d investors as she shared <a href=\"https:\/\/twitter.com\/mfriedrichARK\/status\/1639010016198893568\" target=\"_blank\" rel=\"noopener\">a Twitter thread<\/a> from an Ark associate Maximilian Friedrich that reads:<\/p>\n<blockquote>\n<p>All financial services companies, including banks, encounter and combat fraud, especially during COVID \u2013 Square and Cash App are no exception, although the short report makes it sound like it.<\/p>\n<\/blockquote>\n<p>Ark spent $16 million to purchase another 263,562 of Block shares that are now down well over 30% versus their year-to-date high.<\/p>\n<h2>Wall Street is bullish on Block shares<\/h2>\n<p>Wall Street appears to be siding with Cathie Wood as well. The consensus overweight rating on Block shares suggests analysts view Hindenburg\u2019s concerns broadly as overblown. Ark\u2019s Maximilian Friedrich also noted in <a href=\"https:\/\/twitter.com\/mfriedrichARK\/status\/1639010016198893568\" target=\"_blank\" rel=\"noopener\">his Twitter thread<\/a>:<\/p>\n<blockquote>\n<p>While Cash App likely was used for fraud during COVID, ironically, in this example, Cash App\u2019s spending limits might have prevented the criminal to cash out even more of the funds.<\/p>\n<\/blockquote>\n<p>Wood also increased her stake in Coinbase late last week after the crypto exchange confirmed that it received a <a href=\"https:\/\/cointelegraph.com\/news\/coinbase-ceo-on-its-wells-notice-sec-is-like-soccer-referees-in-a-game-of-pickleball\" target=\"_blank\" rel=\"noopener\">Wells notice<\/a> from the U.S. Securities and Exchange Commission for potentially violating securities laws.<\/p>\n<p>At writing, Coinbase stock is down 20% versus its high at writing.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/cathie-wood-grills-hindenburg-buys-block-shares\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Wood says Hindenburg\u2019s recent short report on Block was \u2018wildly misleading\u2019. She bought more than 600,000 shares of the crypto company late last week. Block shares are down well over 30% versus their year-to-date high at writing. Block Inc (NYSE: SQ) was hit [&hellip;]<\/p>\n","protected":false},"author":30,"featured_media":19148,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/19147"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/30"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=19147"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/19147\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/19148"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=19147"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=19147"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=19147"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}