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Benzinga
Benzinga
Business
Rachit Vats

Cathie Wood Sells $21M In PayPal Amid Stock Crash — Loads Up Heavily In This Fintech Rival

PayPal Cathie Wood Ark Invest Block Nasdaq Ark Investment Management NYSE PayPal Holdings Inc

Cathie Wood-led Ark Investment Management on Wednesday rushed to cut most of its exposure in Paypal Holdings Inc (NASDAQ:PYPL) after the fintech company abandoned an ambitious growth plan that it put in place last year and snapped up shares in fintech rival Block Inc (NYSE:SQ) instead.

The popular money managing firm sold 158,126 shares — estimated to be worth $20.9 million — in Paypal.

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