2023-03-27 08:58:28 ET
Block (NYSE: SQ) , the fintech company formerly known as Square, went public on Nov. 19, 2015, at $9 per share. It skyrocketed to an all-time high of $281.81 on Aug. 5, 2021, but it now trades at about $60. Therefore, a modest $3,000 investment in its IPO would have briefly blossomed to $62,624 before shrinking back to about $13,300 today.
That 567% return in seven and a half years still crushes the S&P 500 's gain of 91%, but many Block investors probably wish they had sold the stock at its peak in 2021. Let's see why Block's stock soared, why it stumbled, and where it might be headed.
Image source: Block.
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If You'd Invested $3,000 in Block in 2015, This Is How Much You Would Have Today