President-elect Donald Trump’s second term could mean more gains for Block , according to Bernstein. “The crypto piece is obvious — bitcoin is ~3% of gross profits and SQ has been strategically focused on bitcoin mining hardware and self-custody wallet,” analyst Harshita Rawat told clients. “But SQ has also come under regulators’ scrutiny (FinCen, CFPB) recently around its Cash App and Afterpay businesses. Lower regulatory scrutiny may also mean that SQ can lean into more Cash App products (e.g., on lending, commerce).” SQ YTD mountain SQ, year-to-date Rawat also sees potential for Block’s inclusion in the S & P 500 and an acceleration of Square gross payment volume — which is the total dollar amount of card payments processed by…
Nov 14 2024
