Block shares are trading higher after it was announced Square and Afterpay sellers reached 70 million transactions over Black Friday and Cyber Monday, up 14% from last year.
Portfolio Pulse from Benzinga Newsdesk
Block shares are experiencing an uptick following the announcement that Square and Afterpay, both owned by Block, processed 70 million transactions during Black Friday and Cyber Monday, marking a 14% increase from the previous year.
November 28, 2023 | 3:53 pm
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Block, under the ticker SQ, saw its shares increase after reporting a 14% rise in transactions to 70 million during the key shopping period of Black Friday and Cyber Monday.
The reported increase in transaction volume for Square and Afterpay during a significant shopping period is a strong indicator of performance and growth, which is likely to be viewed positively by investors. This positive news directly impacts Block's stock as it suggests increased revenue and market penetration, leading to potential short-term price appreciation.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100