Wall St Engine
Truist Securities Initiates Coverage on $XYZ with Sell Rating, PT $60; 'Block has limited OpEx flexibility to offset a worse macro, we expect the shares to underperform peers'
Analyst comments: "While we like Block as a company long-term, we believe this is a really difficult stock to own late cycle as its two business segments are sensitive to the macro (Square mainly serves SMBs/micro merchants and Cash App predominately serves less-affluent consumers). In addition, we believe Block is leaning into growth of its lending products (Cash App Borrow, merchant cash advances, Afterpay BNPL loans) in order to reaccelerate growth throughout 2025 which may lead to higher credit losses and a tough growover in 2026. Given this, and our concern that Block has limited OpEx flexibility to offset a worse macro, we expect the shares to underperform peers."
Analyst: Matthew Coad
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Truist Securities Initiates Coverage on $XYZ with Sell Rating, PT $60; 'Block has limited OpEx flexibility to offset a worse macro, we expect the shares to underperform peers'
Analyst comments: "While we like Block as a company long-term, we believe this is a really difficult stock to own late cycle as its two business segments are sensitive to the macro (Square mainly serves SMBs/micro merchants and Cash App predominately serves less-affluent consumers). In addition, we believe Block is leaning into growth of its lending products (Cash App Borrow, merchant cash advances, Afterpay BNPL loans) in order to reaccelerate growth throughout 2025 which may lead to higher credit losses and a tough growover in 2026. Given this, and our concern that Block has limited OpEx flexibility to offset a worse macro, we expect the shares to underperform peers."
Analyst: Matthew Coad
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Wall St Engine
CHIME FILES FOR IPO, TARGETS UP TO $832M:
Chime and some shareholders are looking to raise as much as $832M in an IPO, valuing the fintech at up to $11B fully diluted — less than half its 2021 peak of $25B. It reported $12.9M in Q1 net income on $518.7M revenue. Shares will trade under CHYM on Nasdaq.
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CHIME FILES FOR IPO, TARGETS UP TO $832M:
Chime and some shareholders are looking to raise as much as $832M in an IPO, valuing the fintech at up to $11B fully diluted — less than half its 2021 peak of $25B. It reported $12.9M in Q1 net income on $518.7M revenue. Shares will trade under CHYM on Nasdaq.
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Wall St Engine
$APLD signs two 15-year leases with $CRWV to deliver 250MW of AI/HPC capacity at its Ellendale, ND data center, generating ~$7B in total revenue. CoreWeave holds option for another 150MW. 1st 100MW phase expected online in Q4'25. Ellendale is engineered to scale to 1GW over time.
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$APLD signs two 15-year leases with $CRWV to deliver 250MW of AI/HPC capacity at its Ellendale, ND data center, generating ~$7B in total revenue. CoreWeave holds option for another 150MW. 1st 100MW phase expected online in Q4'25. Ellendale is engineered to scale to 1GW over time.
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Quiver Quantitative
BREAKING: We just found more STOCK Act violations.
Representative Brandon Gill just filed purchases of up to $850K of Bitcoin.
Some of the trades were made over 100 days ago. The reporting deadline is 45 days.
Gill sits on the House Committee on Oversight and Government Reform https://t.co/CI01ct2ozM
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BREAKING: We just found more STOCK Act violations.
Representative Brandon Gill just filed purchases of up to $850K of Bitcoin.
Some of the trades were made over 100 days ago. The reporting deadline is 45 days.
Gill sits on the House Committee on Oversight and Government Reform https://t.co/CI01ct2ozM
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