The Block Inc (ASX: SQ2) share price is flying higher in afternoon trade, up 6.98%. Block shares closed yesterday at $171.45 and are currently trading for $183.42.
So, what’s driving ASX investor interest in the fintech company today?
What’s piquing ASX investor interest today?
There’s no new price-sensitive news out from Block today.
However, the Block share price gains on the ASX come after its New York Stock Exchange-listed shares gained 6% yesterday (overnight Aussie time) in US trading.
While Block’s ASX shares don’t move in lockstep with the gains or losses on the NYSE, they tend to follow a similar trend.
But it’s not just the Block share price rocketing higher.
A ‘risk on’ mood looks to be taking hold of share investors, with growth stock back in favour. And this is seeing tech shares lead the broader index higher today.
The Appen Ltd (ASX: APX) share price, for example, is up 6.54% at the time of writing while Zip Co Ltd (ASX: Z1P) shares have gained 4.42% today.
The S&P/ASX All Technology Index (ASX: XTX) is up 2.5% today, compared to a gain of 0.8% posted by the S&P/ASX 200 Index (ASX: XJO) so far.
Block share price snapshot
It’s been a volatile ride for Block shareholders since the company listed on the ASX on 20 January.
With more big moves up than down, the Block share price is up more than 4% since the closing bell on 20 January.
By comparison, the ASX 200 has gained 1.7% in that same period.
The post Why is the Block (ASX:SQ2) share price leaping 7% higher today? appeared first on The Motley Fool Australia.
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More reading
- Back to square one? Block (ASX:SQ2) share price gives back half of yesterday’s gains
- 3 beaten-down technology ASX shares to buy right now: expert
- Why is the Block (ASX:SQ2) share price going gangbusters today?
- Why Block, Calix, Carnarvon, and Imugene shares are racing higher
- Leading the pack! ASX tech shares storm higher on Wednesday
The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Block, Inc. The Motley Fool Australia owns and has recommended Block, Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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