3 Reasons to Buy and Hold Square Stock for the Next Decade
Digital payment company Square (NYSE: SQ) has come a long way since its IPO in 2015. The company went public at $9 per share and has since returned a staggering 800% in a little over four years.
This impressive run has meant that Square stock trades at a hefty premium. But we know that most growth stocks trade at expensive valuations due to their robust financial metrics and sizable market opportunity. And in this case, Square's expanding ecosystem, improved earnings, and widening customer base make it one of the top picks for the decade.
The global digital payments market is expected to grow at a solid pace over the next several years. According to Grand View Research, digital payments will enjoy annual growth of about 18% between 2019 and 2025 to reach $130 billion, giving Square enough runway to grow its top line rapidly.
Source Fool.com
