Could Square Be a Millionaire Maker Stock?
Our experts issued a rare "Double Down" Buy alert on this one stock... Learn more.
One of the best times to invest in a company is as it makes its transition from all-out growth (a young business where sales are the primary driver of stock price) to profitable growth (when the company starts reaching a more efficient scale and the bottom line starts to expand). This is the leg of the journey Square (NYSE: SQ) is beginning to find itself on.
Even though 2020 has been a difficult year for its merchant services business due to the pandemic, Square's consumer-facing Cash App is paying off in a big way. Shares are up nearly 250% so far in 2020, valuing Square at a market cap of some $94 billion. It may not be a small stock with the promise of potentially life-changing returns anymore, but it could nevertheless add some serious growth to investor portfolios over the next decade.
Source Fool.com