Square and Twitter Stocks Jump as Founder Jack Dorsey Pledges $1 Billion to Help Combat COVID-19
Shares of Square (NYSE: SQ) and Twitter (NYSE: TWTR) jumped sharply on Wednesday. As of 2:55 p.m. EDT, the two stocks were up 12.3% and 9.8%, respectively.
The two stocks' higher prices come after Jack Dorsey, the CEO of both Twitter and Square, said he has pledged $1 billion to help fund global COVID-19 relief efforts. Shares of Square are likely higher because one analyst is praising the move as evidence of the company's unique culture. And since Dorsey is also CEO of Twitter, this is also an indirect compliment of his leadership at the social network.
Image source: Square.
Source Fool.com