Block (NYSE: SQ) shares have been on an absolute tear in the past couple of weeks, up about 40% since the business announced its third-quarter results. Revenue of $5.6 billion and adjusted earnings per share of $0.55 both crushed Wall Street estimates, so, unsurprisingly, investors were immediately optimistic.
But if we zoom out, the picture isn't as rosy. As of this writing, Block shares are down about 80% from their August 2021 peak, and they've declined 8% this year, not participating at all in the broader market's rally in 2023.
Should investors buy this popular fintech stock right now while it's down? Let's take a closer look at Block.
Source Fool.com