First, StreetInsider.com reports that based on its latest 13F filing with the Securities and Exchange Commission (SEC), Dan Loeb's Third Point hedge fund has started a new position in Square stock, buying 800,000 shares during the quarter that ended on June 30. Investors unable to invest in the hedge fund but trying to at least track and imitate Third Point's strategy may be responding to the news by buying a bit of Square stock themselves. At the same time, investment bank JPMorgan just came out with a new price target on Square stock, reports TheFly.com. Read More...
Why Square Stock Just Popped 6%
First, StreetInsider.com reports that based on its latest 13F filing with the Securities and Exchange Commission (SEC), Dan Loeb’s Third Point hedge fund has started a new position in Square stock, buying 800,000 shares during the quarter that ended on June 30. Investors unable to invest in the hedge fund but trying to at least track and imitate Third Point’s strategy may be responding to the news by buying a bit of Square stock themselves. At the same time, investment bank JPMorgan just came out with a new price target on Square stock, reports TheFly.com.
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