: Block’s stock has been a laggard lately. Will management shakeup provide a needed jolt?

by | Sep 18, 2023 | Stock Market

Block Inc.’s stock has been a sizable laggard this year, and now it’s losing the leader of a critical business — albeit one that hasn’t necessarily lived up to investor expectations lately. Alyssa Henry, the head of Block’s
Square merchant business, is stepping down after a long tenure with the company, and Jack Dorsey will assume her role while continuing to lead Block on the whole, the company announced in a Monday filing.

The announcement comes as Block shares have declined 18% so far this year, while the S&P 500
has risen 16%. Other payment-technology stocks, including Shift4 Payments Inc.,
Toast Inc.
and even PayPal Holdings Inc.
have logged better year-to-date performances.

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