Block Has Assembled the Right Pieces

Potential investors in Square parent Block might stumble over its bitcoin bets. But they don’t have to.

With the market turning against money-losing companies, the onus is on once highflying growth stocks to show a clear path to big profits. Block, the operator of both Square and Cash App, has the pieces to make a compelling case. Even if user or e-commerce growth slows, Block’s consumer Cash App is rapidly adding ways to monetize its existing users via additional financial services, as well as to help boost its Square seller business. Rather than adding still more users, this kind of per-user revenue expansion is what investors are looking for now across many fintech companies, ranging from PayPal to Robinhood Markets.

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