This Is What Whales Are Betting On Block
Portfolio Pulse from Benzinga Insights
A whale investor has taken a bearish stance on Block (NYSE:SQ), with 62% of the spotted trades being bearish. The whale activity indicates a target price range of $50.0 to $85.0 for Block over the last 3 months. The current price of SQ is down -0.67% at $75.69. Truist Securities maintains a Buy rating on Block with a price target of $80.
July 14, 2023 | 4:04 pm
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NEGATIVE IMPACT
Block (NYSE:SQ) has seen significant bearish activity from a whale investor, with a target price range of $50.0 to $85.0. The current price is down -0.67% at $75.69. Truist Securities maintains a Buy rating with a price target of $80.
The bearish stance taken by a whale investor, who typically has significant influence, could potentially drive the price down in the short term. However, the Buy rating from Truist Securities suggests some level of confidence in the stock's potential, which may counterbalance some of the bearish sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100