Shares of digital payments company Square (NYSE: SQ) rose by more than 11% this week after it reported its second-quarter earnings and announced it would be acquiring Australian fintech company Afterpay (OTC: AFTP.F). Square reported diluted earnings per share of $0.40 in the quarter on total net revenue of $4.7 billion. Afterpay is a buy now, pay later company that enables customers to obtain their purchases right away and pay for them in four interest-free installments. Read More...
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Why Roblox Stock Fell 14% in July
Shares of Roblox (NYSE: RBLX), a gaming platform, fell by 14.5% last month, according to data provided by S&P Global Market Intelligence, as investors continued to look beyond so-called pandemic plays and after the company’s stock received a sell rating from an analyst. Roblox’s stock began falling in mid-July after Benchmark analyst Mike Hickey initiated coverage of the tech company with a price target of $75 and a sell rating on the stock. Investors have likely also sold Roblox recently because the company was viewed by some as a good investment during the pandemic as more people spent time at home during lockdowns and social distancing.
