Block, Inc. (NYSE:SQ) shares are trading higher Tuesday, and the stock is up more than 32% over the past month.

What To Know:

On Monday, Cathie Wood-led Ark Invest purchased 347,692 shares of Block through the ARK Next Generation Internet ETF (NYSE:ARKW) in a transaction valued at $25.7 million.

Mizuho analyst Dan Dolev maintained Block with a Buy and raised the price target from $90 to $99 last week, and BMO Capital analyst Rufus Hone assumed Block with an Outperform rating and lowered the price target to $84 earlier in December.

Block launched its self-custody Bitcoin (CRYPTO: BTC) wallet, Bitkey, which is accessible in over 95 countries in December.

CEO Jack Dorsey posted on X urging investors to, “Move your bitcoin off the exchanges” and provided a link to Bitkey. Tesla CEO, Elon Musk, responded to the post with the popular crypto maxim, “Not your keys, not your wallet, as they say.”

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SQ Price Action: According to Benzinga Pro, Block shares are up by 3.87% at $76.74 at the time of publication.

Image: Walkerssk from Pixabay