Dark pool activity was detected in SQ stock on January 24, 2020.
We are unable to determine if these dark pool orders were buy orders, sell orders, or a combination of both.
The options flow on January 24, 2020, favored the bulls.
Notice the Above Ask (AA) options sweep and block order. In particular, notice the $80 strike with an expiration date of February 28, 2020. This was 200 @ $0.95 AA (Above Ask). The only reason someone would pay above the ask is if they just wanted to take a position in the call options as quickly as possible which obviously is very bullish.
On January 22, 2020, Paddy Baker of Coindesk, writes that payments provider “Square has won a U.S. patent for a new network that enables seamless crypto-to-fiat transactions.” “This new system could be especially advantageous for the retail sector, according to the filing. Many cryptocurrencies are too volatile and too slow to become an effective payments solution. Few merchants can feasibly accept a payments method that takes hours to process when the value may swing wildly,” said Coindesk. Source: https://www.coindesk.com/jack-dorseys-square-wins-patent-for-fiat-to-crypto-payments-network
On January 22, 2020, Berenberg analyst Tammy Qiu raised Square’s price target to $67 from $58 while maintaining a Hold rating on the shares.
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.
Square is set to report financials on Februry 25, 2020.