Why Block Stock Jumped 58% in November

Shares of Block (NYSE: SQ), the parent of Square and Cash App, had a banner month in November after the company posted strong results in its third-quarter earnings report, benefited from favorable macroeconomic data, and reported solid Black Friday weekend results.

According to data from S&P Global Market Intelligence, Block stock finished the month up 57.6%. As you can see from the chart below, the stock jumped at the beginning of the month on the earnings report and continued to gain from there.