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YihRu
2021-12-02

Square Is Changing Its Name to Block. It Doesn’t Change the Outlook for the Stock.

Jack Dorsey started the week by stepping down as CEO of Twitter.On Wednesday, he announced that Squa

Square Is Changing Its Name to Block. It Doesn’t Change the Outlook for the Stock.

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It Doesn’t Change the Outlook for the Stock.","url":"https://stock-news.laohu8.com/highlight/detail?id=1139132596","media":"Barrons","summary":"Jack Dorsey started the week by stepping down as CEO of Twitter.On Wednesday, he announced that Squa","content":"<p>Jack Dorsey started the week by stepping down as CEO of&nbsp;Twitter.On Wednesday, he announced that&nbsp;Square,where he remains CEO, has changed its name to Block.</p>\n<p>But don’t take my word for it. Just head over to Square’s investor relations website. There, you’ll find that the transformation to Block is complete, even if there’s an asterisk pointing out that Square Inc. (ticker: SQ) is still the legal name of the company. Dec. 10 is offered as an estimate for when the name will officially change to Block Inc.</p>\n<p>There is also a handy paragraph explaining the concept behind the new name, if not exactly a reason for the change:</p>\n<p><i>Block (formerly Square)* is Square, Cash App, Spiral, TIDAL, TBD54566975, and our foundational teams such as Counsel, Finance, and People that provide guidance at the corporate level. These are our building blocks, united by our shared purpose of economic empowerment. We’re creating tools to help expand access to the economy.</i></p>\n<p>It’s been a busy week for Dorsey, who stepped down as CEO of Twitter (TWTR)—something many investors have been calling on him to do for a while now—and now he can focus his attention on Square, er, Block. Its press release cited the growth of the company, which extends far beyond Square these days. And the new name makes a strange kind of sense. Dorsey has become increasingly focused on crypto, so the name is likely intended to conjure up images of the blockchain, while a block can also be seen as a 3-D representation of a Square. We’re getting very meta here.</p>\n<p>Speaking of which, Square is just the latest tech company to change its name, after Mark Zuckerberg changed Facebook to&nbsp;Meta Platforms&nbsp;(FB) in October. Meta Platforms stock has dropped 2% since announcing the change.</p>\n<p>Square needs to hope that it fares better. The stock was a darling of the first Covid wave, with its stock gaining 640% from its low of $38.09 on Mar. 20 to its record high of $281.81 on Aug. 5. Since then, the stock has dropped 31% to $194.50, the sixth time it’s traded near this level over the past year or so.</p>\n<p>Now it looks a lot like support. If the stock can’t hold here, there’s a good chance it has a lot further to fall.</p>\n<p>Name change or no.</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Square Is Changing Its Name to Block. 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It Doesn’t Change the Outlook for the Stock.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-12-02 15:03 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/square-stock-block-dorsey-51638400359?mod=hp_LEAD_3_B_1><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Jack Dorsey started the week by stepping down as CEO of Twitter.On Wednesday, he announced that Square,where he remains CEO, has changed its name to Block.\nBut don’t take my word for it. Just head ...</p>\n\n<a href=\"https://www.barrons.com/articles/square-stock-block-dorsey-51638400359?mod=hp_LEAD_3_B_1\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.barrons.com/articles/square-stock-block-dorsey-51638400359?mod=hp_LEAD_3_B_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1139132596","content_text":"Jack Dorsey started the week by stepping down as CEO of Twitter.On Wednesday, he announced that Square,where he remains CEO, has changed its name to Block.\nBut don’t take my word for it. Just head over to Square’s investor relations website. There, you’ll find that the transformation to Block is complete, even if there’s an asterisk pointing out that Square Inc. (ticker: SQ) is still the legal name of the company. Dec. 10 is offered as an estimate for when the name will officially change to Block Inc.\nThere is also a handy paragraph explaining the concept behind the new name, if not exactly a reason for the change:\nBlock (formerly Square)* is Square, Cash App, Spiral, TIDAL, TBD54566975, and our foundational teams such as Counsel, Finance, and People that provide guidance at the corporate level. These are our building blocks, united by our shared purpose of economic empowerment. We’re creating tools to help expand access to the economy.\nIt’s been a busy week for Dorsey, who stepped down as CEO of Twitter (TWTR)—something many investors have been calling on him to do for a while now—and now he can focus his attention on Square, er, Block. Its press release cited the growth of the company, which extends far beyond Square these days. And the new name makes a strange kind of sense. Dorsey has become increasingly focused on crypto, so the name is likely intended to conjure up images of the blockchain, while a block can also be seen as a 3-D representation of a Square. We’re getting very meta here.\nSpeaking of which, Square is just the latest tech company to change its name, after Mark Zuckerberg changed Facebook to Meta Platforms (FB) in October. Meta Platforms stock has dropped 2% since announcing the change.\nSquare needs to hope that it fares better. The stock was a darling of the first Covid wave, with its stock gaining 640% from its low of $38.09 on Mar. 20 to its record high of $281.81 on Aug. 5. Since then, the stock has dropped 31% to $194.50, the sixth time it’s traded near this level over the past year or so.\nNow it looks a lot like support. If the stock can’t hold here, there’s a good chance it has a lot further to fall.\nName change or no.","news_type":1},"isVote":1,"tweetType":1,"viewCount":1158,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":2,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"hasMoreComment":false,"orderType":2}

Square Is Changing Its Name to Block. It Doesn’t Change the Outlook for the Stock.

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