Block’s Stock Performance: A Five-Year Retrospective
Investors who put $500 into Block (formerly Square) five years ago WOULD now hold just $220, reflecting a 56% decline as of October 9. The fintech giant's shares once skyrocketed 2,430% during their peak run but have struggled to recover after the 2022 market downturn.
Block's pandemic-era growth was stellar, with gross profit surging 45% in 2020 and 62% in 2021 as digital payments adoption accelerated. Today, its Square segment serves over 4 million merchants, while Cash App boasts 57 million monthly active users—generating $1.5 billion in Q2 gross profit alone.
Despite projecting $2 billion in non-GAAP operating income by 2025—a dramatic reversal from its $19 million loss in 2020—slowing growth and intense competition continue to weigh on investor sentiment. The company's fundamentals have strengthened, but the market remains unconvinced.
