Ark Invest Remains Bullish on Block Despite 84% Stock Drop, Seeing Growth Potential in Square and Cash App

Cathie Wood's Ark Invest is bullish on Block (SQ), with a 3.7% portfolio allocation. The stock has dropped 84% from its high but is oversold.

Block's Square and Cash App ecosystems are building a competitive moat by simplifying commerce and finance.

Block is making progress on strategic goals like growing Square upmarket and expanding Cash App merchant acceptance.

Block has realized just 4% of its $190 billion addressable market, leaving room for growth.

If Block grows at 15% annually, the stock could triple by 2030 based on historical valuation multiples.