on watch tomorrow for pull back for short term trade - $48 maybe even $50 & if no sell off Thurs then definitely on Friday but they have ER coming up sometime next month i think.
Square, Inc. Announces $750 Million Convertible Notes Offering - https://finance.yahoo.com/news/square-inc-announces-750-million-202100824.html
Square (SQ) Finally Meets Its 200-DMA Nov 19, 2018 The payment and point-of-sale solutions company loved by small businesses, Square (SQ), did something today that it has not done in over two years and only done once before in the stock’s history: it closed below its 200-day moving average. Three years to the date of its IPO, SQ fell 10.74% today to drop to $62.97. Today’s decline has brought the stock 37.8% off of its high from October 1st of this year. This drop has also brought it well below support in the mid $60’s from the final days of October. It is safe to say that Square’s fantastic uptrend since its IPO has finally been broken.
Huge potential influx of cash to this from a large investor and CEO of Square that has promised to use Square for donations to their LLC charity fund. They are sponsoring $1bil in cash for this cause. Start Small LLC https://twitter.com/jack/status/1247616214769086465 Sounds like a good long term buy and hold here plus they already have $2bil in cash so stock buybacks and consolidation could occur this year.
Nice pick @Vdubman good move today. Now seems to be in resistance zone. I will keep an eye in this one.
Jack Dorsey's Square Commences Operations As An Industrial Bank 3:04 am ET March 2, 2021 (Benzinga) Print Fintech company Square Inc. (NYSE: SQ) has officially commenced banking operations, nearly a year after receiving conditional approval to operate a bank. What Happened: Square, historically known for its card reader and point-of-sale solutions, said Monday that its industrial bank has commenced operations after completing the charter approval process with the Federal Deposit Insurance Corp. and the Utah Department of Financial Institutions. Known as Square Financial Services, the primary purpose of the Salt Lake City, Utah-based bank will be to offer business loan and deposit products. The bank will initially underwrite and originate business loans for Square Capital’s existing lending product. Moving forward, Square Financial Services will be the primary provider of financing for Square sellers across the U.S. Square Financial Services will continue to sell loans to third-party investors and limit balance sheet exposure. Square said it does not expect the bank to have a material impact on its consolidated balance sheet, total net revenue, gross profit, or adjusted EBITDA in 2021. Why It Matters: Square CFO Amrita Ahuja noted that bringing banking capability in-house will enable the company to “operate more nimbly.” Earlier, Square Capital used to issue loans under a partnership with Celtic Bank, another industrial bank based in Utah. Fintech companies are increasingly looking to get approval to operate banks. Some of these companies already offering products typically offered by banks, including credit products to small businesses, in order to diversify their source of revenue. The products are intended to provide their customers with quick access to funding to meet their business needs. The vision of Square Co-Founder and CEO Jack Dorsey is for the company to become a collection of multiple businesses under one corporate structure, Bloomberg reported in December last year. Square announced purchasing 3,318 bitcoins (CRYPTO: BTC) in February over the 4,709 bitcoins purchased in October last year. See Also: Square CFO Says Bitcoin 'Is Aligned With Our Purpose' Of Economic Empowerment Price Movement: Square closed 4.8% higher on Monday at $241.00. © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Square shares are trading higher after Keefe, Bruyette & Woods upgraded the stock from Market Perform to Outperform and announced a $250 price target. Mar 31, 2021 9:45a ET
