Why Square Stock Jumped 11% in July
Shares of Square (NYSE: SQ) gained 10.86% in value last month, according to data provided by S&P Global Market Intelligence. The stock got a boost in early July after an analyst with Raymond James upgraded it from underperform to market perform. The analyst cited the growth opportunity with Square's new business card as one reason for the optimism.
However, the stock price gave back last month's gain after management's outlook came in short of analsyts' expectations. The company's second-quarter earnings report on Aug. 1 showed continued momentum across the business, but investors were looking for a better outlook on profitability.
IMAGE SOURCE: SQUARE.
Quelle Fool.com
