Why Is Everyone Talking About Square Stock?
Square's (NYSE: SQ) recent earnings announcement sent the stock surging higher in early August. This marks the latest move forward for a fintech giant that recently took an unprecedented step into traditional finance by opening its own bank. Moreover, Square continues to benefit from massive growth in its popular Cash App, and a key acquisition should bring a tremendous boost to both its Cash App and Seller ecosystems.
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Most of the attention around Square centers not so much on financials, but on its intention to buy Australian fintech company Afterpay (OTC: AFTP.F), a transaction that will entail purchase of all of Afterpay's stock for $29 billion. Afterpay allows Square to supercharge buy now, pay later (BNPL) payment options, making it easier for consumers to purchase products and pay in installments without interest.
Source Fool.com
