Bank of America upgrades Square, reiterates Twitter at buy after Jack Dorsey steps aside

Jack Dorsey, co-founder and chief executive officer of Twitter Inc. and Square Inc., speaks during the Bitcoin 2021 conference in Miami, Florida, on Friday, June 4, 2021.
Eva Marie Uzcategui | Bloomberg | Getty Images

The move by Jack Dorsey to step down from his CEO role at Twitter could be good news for the social media stock as well as Square, where he also holds the top role, according to Bank of America.