If You'd Invested $1,000 in Square in 2015, This Is How Much You Would Have Today
Square (NYSE: SQ) went public in Nov. 2015, and the fintech company has already generated massive multibagger returns for its investors. It listed its shares at $9.00 but opened at $11.20 on its first day of trading. If you'd bought 111 shares at the IPO price with $1,000, your investment would be worth nearly $27,000 today.
But sticking with Square has required a lot of patience. The stock dipped below its IPO price in 2016 and went through some fierce rallies and ugly pullbacks before reaching roughly $240 as of this writing. Let's see why the bulls overwhelmed the bears, and whether or not that trend will continue in the future.
Twitter co-founder Jack Dorsey and his friend Jim McKelvey launched Square in 2009. The company was born after McKelvey, who co-founded a glass blowing factory, told Dorsey about his frustration with his inability to close a $2,000 sale, because he couldn't accept credit cards.
Source Fool.com
