Diamonds and Dogs
11/28/23
Block (SQ) had a good weekend. The online transaction processing stock is up 5% as millions of their Square and Afterpay sellers set a new record with 70M transactions, up 14% from last year over year during Black Friday and Cyber Monday extended weekend. The restaurants also had a good weekend as Block experienced a 15% increase in transactions over their platforms.
Micron (MU) lower after raising guidance. The DRAM chipmaker is down 2% as the company raised mid-quarter guidance on sales and pricing as supply and demand balances continue to improve. The reason the stock is lower is due to operating expenses rising while gross margins are coming down a little.
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