For shareholders of Block (NYSE: SQ), the past couple of years have been extremely difficult to handle. The digital payments and software business has seen its stock crater 84% since it hit an all-time high in August 2021. Yes, macroeconomic headwinds have negatively affected this fintech company's growth numbers.
But all hope isn't lost. Block still has some serious potential. Prospective investors might be thinking about whether the beaten-down stock is a buy right now. Here are some reasons why it most assuredly is.
Let's face it. The financial services industry has long been in need of a makeover. Outdated systems, technology, and user interfaces have opened up the opportunity for a business like Block to challenge the status quo, and this innovative company has found notable success.
Source Fool.com