Ebang International Holdings Inc
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Information Technology : Technology Hardware, Storage & Peripherals | Small Cap Blend
Based in China
Company profile

Ebang International Holdings Inc is a China-based holding company principally involved in Application Specific Integrated Circuit (ASIC) chip design and the manufacture and sales of Bitcoin mining machines. The Company also provides telecommunication products and management and maintenance services. The Company conducts its businesses in Mainland China, Hong Kong, the United States and other countries.

Closing Price
Day's Change
-0.17 (-2.60%)
B/A Size
Day's High
Day's Low
(Heavy Day)

10-day average volume:

Cathie Wood's ARK funds snap up Block after short-seller report

4:36 am ET March 24, 2023 (MarketWatch)

By Steve Goldstein

Cathie Wood's family of funds wasted no time pouncing on weakness in shares of Block after a short-seller report.

Three of Wood's funds, including the flagship ARK Innovation ETF (ARKK), bought stock in Block (SQ) on Thursday after the publication of a report by Hindenburg Research, which accused the payments company of "reporting inflated user metrics." Block called the report misleading and said it would explore legal action against Hindenburg.

Block shares ended 15% lower.

Wood's funds altogether spent $21 million buying Block shares, as they also ponied up $18 million for shares of Coinbase Global (COIN), which fell 14% after reporting it was likely to be sued by the Securities and Exchange Commission.

The fund manager helped fund the buy by reducing its stake in Tesla (TSLA), though the electric vehicle maker is still the leading holding by some distance in the ARK Innovation ETF.

The ARK Innovation ETF has jumped 21% after a losing year in 2022. The ARK Next Generation Internet ETF (ARKW) has gained 30% this year, and the ARK Fintech Innovation ETF (ARKF)has rallied 24%.

-Steve Goldstein

This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.


(END) Dow Jones Newswires

March 24, 2023 04:36 ET (08:36 GMT)

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