4 Things You Need to Know if You Buy Block Today
Block (NYSE: SQ) is one of the top companies at the forefront of the digital payment revolution. The company thrived during the pandemic as the adoption of digital payments accelerated. However, the company carried a lofty valuation, profitability in recent years has suffered, and the stock price has plunged as a result.
Today, Block stock is up 73% from its recent low but remains 77% below its all-time high from 2021. The company is growing nicely, and Cash App is carving out a spot as one of the top financial apps among investors. Here are four things to consider if you buy Block stock today.
In the early days, Block's primary source of income came from its point-of-sales system, Square, which allows small and medium-sized businesses to accept credit or debit card payments easily using phones or tablets. In return, it earns transaction fees based on a percentage of total sales.
Source Fool.com
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