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Benzinga
Benzinga
Business
Surbhi Jain

Block S&P 500 Debut Could See 759% Volume Frenzy, 54 Million Shares Snapped Up: JPMorgan

Kazan,,Russia,-,Dec,02,,2021:,Square,,Inc.,Changes,Name

Block Inc. (NYSE:XYZ) is gearing up for a major milestone. The fintech company is set to join the S&P 500 index ahead of trading on Wednesday, July 23.

Analysts expect the inclusion to trigger significant buying pressure from index funds. JPMorgan analyst Min Moon is forecasting a net demand of 54.2 million shares. That’s equivalent to 759% of Block's average daily trading volume.

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