Block (NYSE: SQ) stock was a hot tech stock that soared when it first went public. It offers innovative fintech solutions for businesses and individuals, and it seemed to address many needs for merchants services and digital payments.
However, Block has faced some major challenges over the past few years, not least the fact that it's struggling to be profitable. Investors have soured on its stock, and it's down 8% this year, trailing the broader market's gains. Is this an opportunity for investors to buy on the dip, or is this a stock to avoid? Here are views from both sides of the argument.
Block operates several businesses, the largest being its original sellers business under the name Square and the Cash App personal financial services business. It changed its name in 2021 to reflect its growth from its origins as a merchant services business to a diversified business with many blocks working together to create something bigger. It also incorporates the company's focus on Bitcoin and blockchain technology as a tool for economic empowerment.
Source Fool.com