Why Square's Stock Popped 29.4% in June (and Is Still Climbing)
Shares of electronic payment company Square (NYSE: SQ) jumped 29.4% in June, according to data provided by S&P Global Market Intelligence, as e-commerce stocks rose sharply. Shares have continued their solid run in July, rising 18.4% in the first three trading days.
Square got two big analyst upgrades from Barclays and Rosenblatt, which see the company's payment platform and peer-to-peer payment apps driving growth in the long term. Those upgrades will help a stock short term, but they aren't the real long-term story.
Paying with a Square system. Image source: Square.
Source Fool.com
