Why Square Hit All-Time Highs This Week
Few stocks have rebounded from the March lows like Square (NYSE: SQ), which has gained over 450% since that market dip. At the onset of the COVID-19 pandemic, investors worried that lockdowns would disproportionately impact Square's customer base, which includes a large proportion of small local businesses. Usage of Square's Cash app was boosted by the stimulus bill earlier this year, which allowed consumers to access their government payments directly.
The stock kicked off this week by jumping to fresh all-time highs, thanks to a bullish upgrade from Wall Street.
Square's Cash app and Cash Card are seeing higher usage as the economy reopens. Image source: Square.
Source Fool.com
