{"id":1421,"date":"2020-11-26T17:09:17","date_gmt":"2020-11-26T17:09:17","guid":{"rendered":"https:\/\/thenextweb.com\/?p=1329641"},"modified":"2020-11-26T17:09:17","modified_gmt":"2020-11-26T17:09:17","slug":"square-stock-on-fire-jack-dorseys-beard-sets-3-share-price-records-in-3-days","status":"publish","type":"post","link":"https:\/\/www.londonchiropracter.com\/?p=1421","title":{"rendered":"Square stock on fire: Jack Dorsey\u2019s beard sets 3 share price records in 3 days"},"content":{"rendered":"\n

Square, the fintech stock led by Twitter billionaire and beard-of-the-people<\/a> Jack Dorsey, is on fire.<\/p>\n

In the past three days, Square\u2018s share price has set three consecutive all-time highs, both intraday and closing.<\/p>\n

It peaked at $208 on Monday, hit $209.36 on Tuesday, and broke $214 on Wednesday to close the day up 240% for the year-to-date.<\/p>\n

Square\u2019s previous intraday and closing records were $201 and $198, set on November 6.<\/p>\n

<\/figure>\n<\/p>\n

If Square was included in benchmark indices like the S&P 500<\/a> or the NASDAQ 100<\/a>, it would be their fourth best performing stock in 2020.<\/p>\n

The only stocks that\u2019ve returned more profit would be COVID vaccinators Moderna, video callers Zoom, and electric carers Tesla.<\/p>\n

Square stock is now up over 1,800% since its IPO in 2015.<\/h2>\n

More recently, this week\u2019s 8% jump was solidified by the company\u2019s acquisition of Credit Karma\u2019s tax wing for $50 million, which traders were pretty into.<\/p>\n

The move comes as part of Intuit\u2019s $7.1 billion Credit Karma takeover, which until now was blocked by a civil antitrust lawsuit<\/a> brought forward by the US Department of Justice.<\/p>\n

\"square,<\/figure>\n<\/p>\n

Intuit\u2019s TurboTax is a direct competitor of Credit Karma\u2019s tax business, which makes buying it less than sporting \u2018cos Intuit could end up with a monopoly \u2014<\/span> so Square agreed to buy it instead, and integrate Credit Karma\u2019s tax software and IP into its own peer-to-peer money transfer thing, Cash App.<\/p>\n

But while Square\u2018s main rival PayPal has also benefitted from a hyper-digitized 2020, PayPal has only just managed to double its share price in the past year.<\/p>\n

Still, both stocks are leagues ahead of grandpa payments plays like Visa and Mastercard, which are both up less than 20% since this time in 2019.<\/p>\n

<\/figure>\n<\/p>\n

All those gains are attributed to Square\u2018s healthy revenue<\/a>, with quarterly gross profit up 59% year-on-year. The company\u2019s net revenue rose 140% to $3.03 billion, with Bitcoin transactions (Square does that) making up more than half of that.<\/p>\n

But even without the BTC, revenue rose 25%.<\/p>\n

In fact, Square loves Bitcoin<\/a> so much it put 1% of its total assets in BTC (around $50 million) in early October, when it traded for under $11,000.<\/p>\n

Now it\u2019s worth nearly $17,000, so, there\u2019s that too.<\/p>\n

Square\u2018s done a lot of going up, sure, how far can it go? Boomer question, but ok. Most Wall Street insiders consider it either a buy or a hold, according to MarketWatch<\/a>.<\/p>\n

Published November 26, 2020 \u2014 17:09 UTC <\/p>\n

Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Square, the fintech stock led by Twitter billionaire and beard-of-the-people Jack Dorsey, is on fire. In the past three days, Square\u2018s share price has set three consecutive all-time highs, both intraday and…<\/p>\n","protected":false},"author":1,"featured_media":1422,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/posts\/1421"}],"collection":[{"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1421"}],"version-history":[{"count":0,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/posts\/1421\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/media\/1422"}],"wp:attachment":[{"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1421"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1421"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1421"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}