Block Shares Crash On Cash App Miss: Analyst Says 'Not An Investable Story'
1. Block Inc shares fell 19.70% following disappointing quarterly results. 2. Cash App profits and gross payment volume missed consensus estimates. 3. Analysts downgraded ratings and reduced price targets for Block. 4. Management cited soft discretionary spending affecting Cash App's performance. 5. Guidance lowered reflects cautious macroeconomic outlook impacting future earnings.