Block shares soar 10% on entry into S&P 500 \ stacker news ~Stacker

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Woop woop, the Bitcoin takeover is here

10 sats \ 1 reply \ @BlokchainB 19 Jul

As a block bag holder I am very happy for them

125 sats \ 0 replies \ @Wumbo OP 19 Jul

I am also glad to see Block is a Bitcoin Company with positive earnings.

https://www.nasdaq.com/market-activity/stocks/xyz/earnings

A lot of the publicly trading bitcoin companies seem to be fine with negative earnings.

54 sats \ 0 replies \ @Wumbo OP 19 Jul

Block shares jumped more than 10% in extended trading on Friday, as the fintech company gets set to join the S&P 500, replacing Hess

It’s the second change to the benchmark this week, after S&P Global announced on Monday that ad-tech firm The Trade Desk would be added to the S&P 500. Trade Desk is taking the place of software maker Ansys, which was acquired by Synopsys

Block will officially join the S&P 500 before the opening of trading on July 23, according to a statement from S&P. Stocks often rally when they’re added to a major index, as fund managers need to rebalance their portfolios to reflect the changes.

0 sats \ 0 replies \ @grayruby 19 Jul

Time to buy some more Bitcoin Jack.

0 sats \ 0 replies \ @optimism 19 Jul

That's expected, because:

Portfolios that track the S&P500 need to buy in
Listings cause visibility and awareness