Where Will Block Stock Be in 1 Year?

Investors continue to have doubts about Block (NYSE: SQ) stock, formerly known as Square. Once an up-and-coming high-growth company, it's been losing money and facing competition across its businesses. Block stock is up just 2% during the past year.

Management recognizes that the company may have lost its way and is taking action. Chief Executive Officer Jack Dorsey laid out his plan for leveraging Block's model to differentiate it from the pack and create shareholder value. Let's see where it might be a year from now.

Block started off with its seller's business, which provides payment and management solutions for small businesses. It had some innovations that brought it to the attention of investors, such as its square-shaped phone attachment (hence the name) that lets anyone take payments on a smartphone. It grew from there to offer a full range of hardware and software that bring a business's financial activities together in one place with easy-to-use products and services. It also developed a personal financial service called Cash App, which has been incredibly successful as a peer-to-peer payments business. It has since expanded to offer credit cards, bank accounts, and more.

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Source Fool.com