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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.
...read full article on Benzinga
