In the past decade, there has been a ton of innovation in the payments industry. One of the businesses leading the charge is Block (NYSE: XYZ). The Jack Dorsey-led company has become popular among consumers and small merchants, propelling its growth over the years. This fintech stock is pushing forward, as it recently introduced a major product offering that may just prove to be a bullish indicator for the ultimate cryptocurrency. Here's what investors need to know. Where to invest $1,000 right now? Our a ...

智通财经APP注意到，距离美国中期选举还有九个月，华尔街已开始预演 11 月投票前的各种交易情 景。目前最受关注的是美国消费者，至少从最新的情绪调查来看，他们的情况并不乐观。 投资者正在紧盯那些能从特朗普政府降低生活成本的努力中获益的交易。这包括：随着某些税制改革和 其他生活成本政策的实施，需求可能增加的新型金融公司；以及如果抵押贷款利率下降，景气度将回升 的住房建筑商。 美国总统特朗普已经通过下令购买抵押贷款支持证券(MBS)，试图压低住房借贷成本。共和党目前在众 议院仅维持微弱多数优势，投资者预计他们将倾向于支持解决通胀威胁的立法。 特朗普新交易表现优异 这就是为什么花旗推出了被佩蒂特称为"战术性"的交易一篮子股票，重点关注活跃于中低收入消费者金 融领域的金融科技公司，如 Klarna(KLAR.US)、Block(XYZ.US)和 Intuit (INTU.US)。例如，该群体可能 会受到使消费者更容易获得信贷的政策的提振。 花旗瞄准金融科技领域之际，世界大企业联合会的数据显示，消费者信心降至 2014 年以来的最低水 平。这在华尔街的部分角落引发了警报，担忧支出可能开始萎靡，尽管几个月来情绪调查一直疲 ...

Group 1 - MTF Enterprises, a Subway franchisee operating 43 stores, filed for Chapter 11 bankruptcy protection due to financial difficulties linked to Merchant Cash Advance loans [8] - The Subway franchise system has seen a decline in store count, dropping from 21,147 stores at the beginning of 2022 to 19,502 by the end of 2024, indicating potential issues with unit economics [4] - Franchisees have expressed concerns over the financial burden imposed by the cost of remodels, which has contributed to the financial strain on operators [5] Group 2 - MTF's bankruptcy is part of a broader trend, as other franchisees, such as Matadoor Restaurants, have also filed for bankruptcy after facing challenges related to Merchant Cash Advance loans [5] - The restaurant industry has experienced increased pressure from creditors, with companies like Fat Brands and TGI Friday's facing significant financial challenges and bankruptcy filings due to escalating repayment demands [6]

Core Viewpoint - The fintech stock Block is currently trading 77% below its all-time high established in August 2021, indicating a potential investment opportunity as it may surge before Wall Street takes notice [2]. Valuation - Block's shares are trading at an attractive EV-to-EBIT ratio of 15.1, making it a compelling valuation in a market where valuation is a significant concern [3]. - A lower valuation multiple provides a margin of safety for investors, minimizing downside risk if future performance expectations are overly optimistic [4]. Business Performance - Block is experiencing growth and profitability, with the Square segment showing a 9% year-over-year gross profit growth in Q3, while Cash App's gross profit rose by 24% during the same period [5]. - The company's operating income has been increasing significantly [5]. Bitcoin Focus - Block's Bitcoin initiatives are often overlooked, but they present underappreciated upside potential [6]. - CEO Jack Dorsey has been a proponent of Bitcoin since 2021, believing it could serve as a native currency for the internet due to its digital, decentralized, and scarce nature [7]. - Block's Bitcoin projects include a self-custody wallet called Bitkey, cryptocurrency mining equipment under the Proto brand, Bitcoin trading for Cash App users, and the ability for Square sellers to accept Bitcoin payments [8].

Core Insights - Square has renewed its lease for the Corner Store in San Francisco's Mission District, launching new programming to enhance local business engagement and community ties [1][8] - The Corner Store has been instrumental in driving local economic growth, processing over 20,000 daily transactions in the Mission District in 2025, with a 10% year-over-year increase in transaction volumes in the latter half of the year [2][8] - The BIGFACE Coffee residency has proven successful, increasing sales in the Mission by 11% during a two-week activation, leading to an extension of the residency until April 12 [3][8] Community Engagement and Programming - The Corner Store serves as a community hub, offering personalized coffee drinks, monthly spotlights on local businesses, and events with industry leaders [4] - Square is committed to supporting local businesses and cultural events throughout the year, indicating a long-term investment strategy in San Francisco neighborhoods [5] Market Performance - Square's shares have declined by 15.6% over the past three months, compared to a 13.3% decline in the industry [5]

Group 1 - Steak 'n Shake, a subsidiary of Biglari Holdings, added $5 million worth of Bitcoin to its Strategic Reserve [1] - The company announced that all Bitcoin sales contribute to its strategic reserve, emphasizing a self-sustaining system that enhances food quality and same-store sales [2] - This recent addition follows a $10 million Bitcoin expansion earlier in the month, marking a significant treasury-related move [3] Group 2 - Steak 'n Shake has begun accepting Bitcoin payments globally through the Lightning Network, resulting in nearly 50% savings in transaction fees compared to credit card processing [4] - The company is actively integrating Bitcoin into its operations, including a BTC bonus for hourly employees, which vests after two years [4] - As of the latest data, Bitcoin was trading at $88,811.53, with Biglari shares rising 1.67% in after-hours trading, reflecting a year-to-date increase of 19.83% [5]

Core Insights - SoFi Technologies has transformed personal finance for millennials and Gen Z, starting with student loan refinancing and expanding into a full-spectrum digital bank offering various financial services [1][4] - The company has achieved significant growth, boasting over 12 million members and a stock price increase of 245% over the past three years, driven by rising adoption and profitability [2][4] - Investors are keenly awaiting the fiscal Q4 earnings report, as SoFi has consistently beaten expectations in the previous four quarters [2] Company Overview - SoFi Technologies provides a wide range of services through its mobile app and website, including banking, lending, investing, and financial planning tools, with a focus on tech-savvy users [4][5] - Membership has surged from approximately 1 million in 2019 to over 12.6 million, reflecting a 35% year-over-year increase, driven by successful cross-selling and the acquisition of a banking charter [4][5] Financial Performance - SoFi's stock has underperformed in 2023, down 3%, while the S&P 500 has gained about 2% [6] - The stock trades at 87 times trailing earnings and 44 times next year's estimates, which is higher than the banking industry average of around 12 but comparable to high-growth fintech peers [6] - The forward price-to-sales ratio stands at 7.46, elevated compared to SoFi's historical average of around 5, but reasonable given its transition to profitability and expected revenue growth exceeding 20% annually [6]

Core Insights - SoFi Technologies, Inc. (SOFI) is set to report its fourth-quarter 2025 results on January 30, with earnings expected at 12 cents, reflecting a 140% increase year-over-year, and revenues projected at $981.9 million, indicating a 32.9% year-over-year growth [1][7] Earnings Estimates - The Zacks Consensus Estimate for the upcoming quarter shows two upward revisions in earnings estimates over the past 60 days, countered by two downward revisions [1] - The Earnings ESP for SOFI stands at +1.30%, with a Zacks Rank of 3 (Hold) [3] Segment Performance - Significant year-over-year growth is anticipated across SOFI's segments, particularly in Financial Services, Lending, and Technology Platforms [4] - Financial Services revenues are estimated at $446 million, representing a 74% year-over-year growth, while Lending revenues are expected to reach $488 million, indicating a 17% year-over-year growth. The Technology Platform segment is projected to grow by 12% [5] Stock Performance - SOFI shares have increased by 60.5% year-over-year but have seen a 14% decline over the last three months, suggesting a consolidation phase after a strong performance [7][8] - The company's valuation appears elevated, with a forward 12-month Price/Earnings ratio of 42.51X, significantly higher than the industry average of 21.6X [9] Investment Considerations - Given the current valuation concerns, a cautious approach is recommended, as the stock may struggle to gain significant upward momentum in the near term [10] - Comparatively, Block (XYZ) and Upstart (UPST) may present better value opportunities, with forward P/E ratios of 20.24X and 16.94X, respectively [11][12]

Core Viewpoint - U.S. fintech stocks are expected to gain an advantage as the government adopts a more populist, affordability-driven agenda ahead of the November 2026 midterm elections, potentially benefiting fintech challengers over traditional lenders [1]. Group 1: Fintech Companies Positioned for Growth - Companies associated with consumer-friendly credit and small-business services, such as buy-now, pay-later providers Affirm and Klarna, as well as fintech firms SoFi and Block, are well-positioned to benefit from the current market dynamics [2]. - Other potential winners identified include restaurant technology platform Toast and e-commerce firm Shopify, which may also capitalize on the affordability trend [2]. Group 2: Market Reactions and Performance - Traditional lenders experienced a rally following Trump's return to the White House in 2025, driven by expectations of a lighter regulatory environment; however, the focus on affordability may shift investor attention towards fintech challengers [3]. - In 2025, SoFi's stock increased by approximately 70%, while Affirm's rose by over 22%. In contrast, Block's stock fell by more than 23%, underperforming both its fintech peers and the broader market, which saw the Nasdaq Composite rise by about 20.4% during the same period [3]. Group 3: Political Influence on the Financial Sector - The rise of populism, linked to the affordability focus as midterms approach, suggests that companies offering lower-cost, user-friendly lending tools or services aimed at small businesses could see significant gains [4]. - Recent actions by the U.S. president, including a call for a one-year cap on credit card interest rates at 10%, indicate a pushback from the banking industry and reinforce the affordability agenda that could favor smaller fintechs [4][5]. - An executive order signed by the president aims to restrict large institutional investors from competing with individual homebuyers, further supporting the affordability-focused agenda that may benefit smaller fintech companies [5].

Core Insights - Steak 'n Shake, a subsidiary of Biglari Holdings, will start offering Bitcoin bonuses to hourly employees at its company-operated restaurants beginning March 1 [1][2] - Employees will receive a bonus of $0.21 worth of Bitcoin for every hour worked, with a two-year vesting period for collection [2] - The company has partnered with Fold, a Bitcoin-focused personal finance application, to implement this bonus program [2] Financial Strategy - Steak 'n Shake has added $10 million worth of Bitcoin to its balance sheet and plans to accept Bitcoin payments starting in 2025 [3][5] - The company reported nearly 50% savings in transaction fees within two weeks of accepting Bitcoin payments compared to traditional credit card processing [3][4] - All Bitcoin sales are directed into a Strategic Bitcoin Reserve, further enhancing the company's commitment to cryptocurrency [5] Market Performance - As of the latest data, Bitcoin (BTC) was trading at $89,133.47, down 2.01% in the last 24 hours [5] - Biglari Holdings' shares experienced a decline of 0.33% in pre-market trading, following a 2.91% drop during the regular trading session, with a year-to-date decline of 64% [6]