Block Inc. (XYZ) Skyrockets 16.8% as Firm Lets Go of 4K Employees for AI

We recently published 10 Stocks Ending February With a Bang. Block Inc. (NYSE:XYZ) was one of the best performers on Friday. Block Inc. extended its winning streak to a fourth straight day on Friday, soaring 16.82 percent to close at $63.70 apiece, as investors took heart from the company’s corporate restructuring initiative that saw the layoff of more than 4,000 of its employees. In a shareholder letter, Block Inc. (NYSE:XYZ) explained that it slashed its total workforce from 10,000 to just under 6,000 ...