Block's 6.79% Surge and $940M Volume Spree Propel It to 93rd Most Active Amid Truist's $70 Price Target Hike Despite 'Sell' Rating

On August 22, 2025, Block (XYZ) surged 6.79%, with a trading volume of $0.94 billion, marking an 83.65% increase from the prior day and ranking 93rd in market activity. The stock’s momentum follows a strategic upgrade by Truist, which raised its price target to $70 from $65 while maintaining a “Sell” rating. Analyst Matthew Coad highlighted concerns over unaccounted credit losses and working capital demands for Block’s lending product growth, despite the success of its Borrow platform in driving revenue acceleration.

Block’s ecosystem expansion through strategic partnerships has positioned it as a key player in diversified financial and retail sectors. Collaborations with Purdys Chocolatier, Caleres, and Uncle Sharkii have integrated Square’s point-of-sale systems, BNPL solutions, and restaurant platforms across over 100 locations. These initiatives aim to streamline operations and enhance customer engagement, aligning with Block’s focus on scalable, industry-tailored solutions. Recent financial results show a 14% rise in second-quarter gross profit to $2.54 billion, with Cash App and Square revenue growth of 16% and 11%, respectively.

A backtest of a strategy buying the top 500 stocks by daily trading volume and holding for one day from 2022 to 2025 yielded a 255% cumulative return, with a maximum drawdown of -22.3%. The $2,550 profit underscores the strategy’s volatility but highlights its long-term profitability amid market fluctuations.