3 Things You Need to Know If You Buy Block Today
It's been a difficult time to say the least for shareholders of Block (NYSE: SQ). The purveyor of merchant services and consumer banking products saw its stock price fall a precipitous 24% in the month of September, continuing a longer-term trend that started in late 2021. A difficult macro backdrop and pressured investor enthusiasm deserve the blame.
But this business can make for an attractive investment opportunity, not least because of its beaten-down valuation. Before buying, here are three things you need to know about this fintech innovator.
Generating 52% of the company's gross profit in the three-month period that ended June 30, Cash App is a booming segment for Block. Its gross profit jumped 37% in the last quarter, and it now has 54 million monthly active users.
Source Fool.com
