Block’s stock pops on addition to S&P 500
In this photo picture, the Logo for the US technology company “Block” is displayed and reflected on a series of digital displays in London, England on 03 March 2023.
Leon Neal | Getty Images
To obstruct S&P Global increased by 7% on Monday, which was purchased by HESS. Chevron’s 54 billion dollars.
Investors, while trying to prevent the index fund managers who need to buy shares to mimic changes, the stock rose late after the announcement on Friday. Square’s market value of $ 48 billion in the nearby places on Monday is far above the founder of the Median S&P 500, but stocks are still 8% this year.
According to a note of Stephens, it is expected to purchase 101 million shares equivalent to an average transaction volume of approximately 11 days due to passive funds.
Block is trying to re -establish the investor’s trust after unequal performance from cash application business. Stu Novick from Gimme Credit missed predictions in the last quarter of gross snow growth, while the company still provides strong corrected gains and improves cash flow, he said.
While the Block joins the comparison index, an important player in the Fintech industry remains on the sidelines.
Robinity Last year, 345% rose on the US stock exchange. Nevertheless, although it approached approximately $ 100 billion, the company has repeatedly passed to include the S&P 500.
Robinhood shares fell almost 5% on Monday.
WRISTWATCH: Block shares come and dive into Miss
