San Francisco-based mobile payment giant, Square Inc. (NYSE: SQ) closed at $166.66 on September 1st, surpassing fivefold value of its yearly low of $32.33 recorded on March 18th. Currently, its stock price is hitting a new high, and the stock price has grown over 1,100% compared to that recorded at the time of IPO in November 2015.
Founded in 2009 by Twitter’s CEO Jack Patrick Dorsey, Square Inc. is leading in providing retailers or restaurants with payment solutions.
Square Inc. also provides a mobile payment software for individuals, Cash App, enabling to handle bitcoins, etc. with mobile phones. In 2020 Q2, Square Inc. recorded about 64% growth in its sales partially thanks to effects of the US government funds such as unemployment benefits.
Square Inc. is incorporated into some US growth funds and often referred to as one of the successors of FANG stocks. We expect its continuous growth at this moment.
- Watanabe & Brothers’ Investment is holding shares of Square Inc.
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