$XYZ today : jack discount (💩) $XYZ soon : jack premium (🐐) Top 3 drivers — 1. Square growth acceleration 2. Cash App growth via Local + Credit 3. Proto bitcoin chips & rigs

$XYZ – Nick Molnar In 2021, Nick Molnar held 19.46M shares of Afterpay, a company he co-founded. Block acquired Afterpay for 0.375 $XYZ shares per Afterpay share, giving Nick roughly 7.3M shares of Block. At today’s price of $80/share, that stake is worth $584M. Let’s say

$XYZ sometimes I feel like I'm not bullish enough

Cathie is selling $XYZ to buy Tom Lee's ETH treasury company. If I'm jack or Block Investor Relations, I'm taking this personally. Make her regret it.

$XYZ – Short Interest Since last November, short interest has climbed from • 8M shares → 18.5M shares That’s a +10.5M share increase. The message from institutions? They’re still betting against the rally. But it's okay. Shorts are just future forced buyers.

$XYZ – NEW CASH APP FEATURE POOLS Seems like an extremely useful & fun feature

$PYPL – Q2 Earnings • Sales – $8.29B (+5%) vs $8.08B est ✅ • TPV – $443.5B vs $433.6B est ✅ • EPS – $1.40 vs $1.30 est ✅ • Tx Margin $ – $3.84B (+6.5%) vs $3.67B est ✅ • FCF – $656M vs $1.90B est ❌❌❌ • EPS Guidance: $5.15–$5.30 vs $5.12 est ✅ Maybe a warning sign

$XYZ Another nudge for Block Investor Relations to bring OBJ and Nick Molnar onto earnings calls

$XYZ – Cash App POOLS This headline is a good interpretation

$XYZ – Cash App Pools T&S If you want to know how it works, this will help: (copy/pasted) 6. Peer-to-Peer Pools a. Description and Eligibility. Peer-to-Peer Pools (“Pools”) provide a service for an “Organizer” to create a temporary balance of their Cash App Balance (a “Pool”)

$XYZ – Cash App POOLS vs Venmo GROUPS They look similar—but are fundamentally different👇 Launch • Pools – Yesterday • Groups – Late 2023 Contributors • Pools – Pay via Apple Pay or Google Pay. No Cash App needed • Groups – Must have a Venmo account Organizer Control •

$XYZ – "Block is about to go on a tear" "We expect a re-rating as the market begins to appreciate the company’s accelerating margin expansion and strong growth trajectory" – Jai Mirchandani, founder and chief investment officer of Melbourne boutique ELM Responsible Investments

$XYZ – Analyst PT These latest 2 analyst ratings on Block is actually good. Mixed views going into earnings is better than everyone being max bullish.

$XYZ D-7 to one of the most important earnings in Block’s history. 25 H2 was hyped during earnings calls since last year. Let's see if it's real—or just noise.

$COIN Q2 Estimates vs Actual Expectations were elevated. Missed pretty much all estimates. • Revenue $1.59B vs $1.42B 🔴 ••Transaction $787.1M vs $764.3M 🔴 ••• Consumer $709.8M vs $649.9M 🔴 ••• Institutional $72.7M vs $60.8M 🔴 ••• Other $67.3M vs $53.5M 🔴 ••