Bullish options flow and dark pool activity was detected in SQ stock on January 15, 2020.
We think this was a buy order because of how SQ stock continued to rise after the dark pool print.
We also think the dark pool order was a buy order because of the bullish options flow in SQ stock today.
On January 10, 2020, Stephens analyst Brett Huff upgraded Square (SQ) to Overweight from Equal Weight with a price target of $78, up from $71, as he expects the company to beat revenue expecations and meet EBITDA expectations when it reports Q4 results. He also sees the company issuing in-line FY20 guidance and believes margin expectations have already been reset while the market is underestimating pricing benefits.
On January 7, 2020, Square published a post on its blog that states: “Beginning on February 7, 2020, the rate for instant and same-day transfers from your Square balance to your bank account is changing to 1.5% per transfer. We’ve recently launched a variety of fast and free transfer options, so we felt the timing was right for this change…This change goes into effect today for all sellers new to instant transfers, and on February 7, 2020, for all existing instant transfer users.” Source: https://squareup.com/us/en/townsquare/new-fee-instant-transfer
Also on January 7, 2020, BofA analyst Jason Kupferberg upgraded Square to Buy from Neutral with a $75 price target. Sentiment on the shares remains mixed following the significant underperformance in 2019, Kupferberg tells investors in a research note. However, there is “ample upside” to near-term estimates now that Square’s initial 2020 guidance has been provided, contends the analyst. He sees quarterly execution and Square’s March 18 analyst day as potential catalysts for the stock in the first half of 2020.
What’s Next? Make Sure To Review This Lesson On Dark Pool Trading!
What’s Next? Make Sure To Review This Lesson On Options Flow Trading