Monday’s Headlines: Square Considers Bitcoin Wallet Hardware
Here were the biggest movers in the MyWallSt shortlist on Friday:
Moving Up ⬆️
DocuSign (DOCU) +19.8%
Zoom Communications (ZM) +5.3%
Tesla Motors (TSLA) +4.6%
Lululemon (LULU) +3.8%
Moving Down ⬇️
PagerDuty (PD) -13.0%
Baozun (BZUN) -3.8%
ShotSpotter (SSTI) -3.5%
Redfin (RDFN) -2.7%
iRobot (IRBT) -2.4%
1. Square (SQ) CEO Jack Dorsey alluded to even more Bitcoin advances from his company on Friday. The payment solutions firm is apparently looking into building a hardware Bitcoin wallet that would give consumers greater control over the cryptocurrency they own. Bitcoin transactions have become a lucrative business for Square, which allows consumers to make purchases using its Cash App and store the currency digitally. Bitcoin revenue at the company climbed to $4.75 billion last year from $516.5 million in 2019. Read the full story here.
2. Watch out Roblox (RBLX), Facebook (FB) could be moving in on your turf following its latest acquisition. The social media giant shared on Friday that it’s buying Unit 2 Games, which builds a platform called Crayta — a direct competitor to Roblox. This platform also gives users a more simple creation interface teamed with discovery and community features. “We plan to integrate Crayta’s creation toolset into Facebook Gaming’s cloud platform to instantly deliver new experiences on Facebook,” Facebook Gaming VP Vivek Sharma wrote in an announcement post.
3. Shares in DocuSign (DOCU) soared almost 20% on Friday following an impressive earnings beat on Thursday night. Despite reporting a loss of $8.4 million, or $0.04 per share, the San Francisco-based company topped analyst estimates with revenue hitting a record $469.1 million, up 58% YoY. Meanwhile, free cash flow was $123 million, compared to $32.8 million in the same period last year. “We’ve increasingly become the way people agree in this emerging anywhere economy… [by] helping them realize new and more efficient ways of doing business in the future,” said DocuSign CEO Dan Springer. Read the official press release here.
There are 3 companies on the MyWallSt shortlist that will report earnings today:
Get this week’s full earnings calendar here.