Market Overview

Square Makes New All-Time High

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Square Inc (NYSE: SQ) shares are trading higher by $1.94 (12.6 percent) at $16.98 in Thursday's session.

The catalyst for the rally isn't its Q4 beat, but the much higher guidance for Q1 EPS of $0.00-0.03 vs. $(1.10) estimates and FY 2017 EPS $0.15-$0.19 vs. $(0.31) estimates.

See Also: The Jack Dorsey Portfolio Delivered Mixed Results This Quarter

After a higher open, it sprinted to $17.75 before profit-takers came into the issue. So far, the ensuing decline has taken the issue to the $17.00 area.

Square's stock is poised to close well above its former all-time high from March 2016 at $15.91.

Posted-In: Technicals Intraday Update Movers Trading Ideas

 

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