US payment fintech Block Inc. purchased the old Afterpay, a stock which delivered stellar gains to the early investors and losses to those who jumped on board too late. The “Buy now, pay later” space has recently struggled on several levels, including regulatory issues over the last 18-months which has seen the stock plunge over 65% – a stock that’s simply too hard for us!
- We see no reason to catch this falling knife whose outlook and future earnings lack clarity.
MM is neutral toward SQ2
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