Why Block Stock Rose Today
Portfolio Pulse from Ryan Gustafson
Block, Inc. (NYSE:SQ) shares rose after reporting a 14% increase in transactions over Black Friday and Cyber Monday, reaching 70 million. Key highlights include a 15% rise in in-person shopping and restaurant transactions, a 31% increase in activated subscriptions, and significant growth in Buy Now, Pay Later (BNPL) transactions, with Afterpay's growing by 19% and Square sellers' by 47%.
November 28, 2023 | 9:18 pm
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POSITIVE IMPACT
Block, Inc. (SQ) experienced a positive stock price movement after announcing a significant increase in transactions during the Black Friday and Cyber Monday sales period.
The reported increase in transactions indicates strong performance and consumer engagement with Block's services, particularly Square and Afterpay. This positive news is likely to instill investor confidence in the short term, contributing to the stock's rise.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100