H&R Block Stock Soars

FiveThirtyEight: “The company, which processed 19.7 million American tax returns in 2016, exists because so many Americans would rather pay someone to do their taxes than perform all those calculations themselves. If filing were to become as easy as writing a postcard, then H&R Block stood to lose business. As Trump said when he met with Brady and Ryan: ‘The only people that aren’t going to like this is H&R Block. They’re not going to be very happy. That’s probably one of the only companies in the country that’s not going to be thrilled.’ The firm’s stock price dropped 2.6 percent that day to $23.86, the lowest since April 24.”

“Shareholders shouldn’t have panicked. H&R Block’s stock price has gained 14 percent since Nov. 2, as it became clear that postcard filing was more gimmick than revolution.”