If You Invested $1,000 in Block 5 Years Ago, This Is How Much You Would Have Today
Block (NYSE: SQ) has taken its investors on quite a ride over the last several years. The company enjoyed profitability followed by stellar growth in its businesses, some of which were fueled by pandemic-related behavior shifts.
In the last five years, investors who bought shares of the fintech would've seen their investment slashed in half, then skyrocket for a few years before crashing down to earth. Read on to see why Block has been so volatile and how much a $1,000 investment in the company would be worth today.
Block (formerly known as Square) was founded in 2009 and offered hardware and software services to help small and medium-sized businesses accept credit card payments from customers using smartphones or tablet computers as a register for a point-of-sale system. Along with the hardware sales, the company charges a transaction fee based on a percentage of the total transaction amount processed and earned $5.7 billion in net revenue from this part of its business last year.
Source Fool.com
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