10 Stocks Ending February With a Bang

4. Block Inc. (NYSE:XYZ)

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 as rapid technological advancements, including artificial intelligence, were seen to have significantly shifted the business landscape.

“We’re already seeing it internally. A significantly smaller team, using the tools we’re building, can do more and do it better. And intelligence tool capabilities are compounding faster every week,” Block Inc. (NYSE:XYZ) Chairman Jack Dorsey said.

“And this isn’t just about efficiency. Block serves millions of customers. Sellers and consumers who are going to feel the economic effects of this same shift. Small businesses that rely on us to get paid, to manage their money, to access capital. Individuals navigating a financial landscape that’s changing fast. Our job is to help them through it. That’s not a new mission for us, but the urgency behind it is more pronounced, and the speed at which we need to deliver is accelerating,” he underscored.

The announcement followed Block Inc.’s (NYSE:XYZ) financial and operating highlights last year, with net income attributable to shareholders dropping by 55 percent to $1.3 billion from $2.897 billion in 2024. Total revenues finished flat at $24 billion.

For this year, the company is targeting to grow its gross profit by 18 percent to $12.20 billion from $10.36 billion in 2025.