SQ pretty much did what was expected this past week, Valuation is pretty high and I expect some consolidation before moving higher. The risk with SQ is that their growth slows and the bump they got in active users tapers off and was dependent on the stimulus check deposits. They need to expand their direct deposit users since those are the ones that really spend the most on the cash cards. I would like to see an incentive offered to set up direct deposits.
I expect SQ to continue its march up towards $170 area.
I expect SQ to continue its march up towards $170 area.