Could Buying Block Stock Today Set You Up for Life?

From their initial public offering in November 2015 to their all-time high in August 2021, shares of Block (NYSE: SQ) have skyrocketed an impressive 2,060%. That gain easily trounced the broader indexes. Since then, the market has adopted a more subdued perspective on this fintech stock, as well as other once high-flying growth enterprises. As a result, shares trade 68% off that peak from more than three years ago.You might be considering buying Block on the dip. Could this move set you up for life?Block registered tremendous growth over the years by attacking large end markets. For example, the leadership team estimates the total addressable market for Cash App to be $75 billion, while for Square it believes it's $130 billion (both on a gross profit basis). Given that Block generated an annualized gross profit of $9 billion in the third quarter (ended Sept. 30), there is a huge expansionary runway to target.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool