Block surges to 189th in trading volume with $486 million in shares exchanged

On June 3, 2025, Block (XYZ) saw a significant increase in trading volume, with a total of $486 million in shares exchanged, marking a 30.04% rise from the previous day. This surge placed Block at the 189th position in terms of trading volume for the day. The stock price of Block also rose by 2.83%, marking the second consecutive day of gains, with a total increase of 2.85% over the past two days.

Truist Securities initiated coverage on Block (XYZ) with a "Sell" rating and a price target of $60. The firm highlighted growing macroeconomic risks and headwinds facing the fintech company. Despite acknowledging Block's long-term potential, Truist expressed concerns about the current market conditions and their impact on the company's performance.

Following the initial coverage, Truist Securities adjusted its price target for Block from $60 to $61, while maintaining the "Sell" rating. This adjustment came after receiving feedback from the company, indicating that Block's management is actively addressing the challenges posed by the current economic environment.