How to buy Block stock
Block is a financial technology company with both merchant and consumer products. The stock price is up a whopping 609.41% in the last five years, greatly outpacing the S&P 500’s 114% return over that same time period. The question for new investors is how to buy Block stock now.
How to buy Block stock?
You can purchase Block shares directly through a brokerage account or one of the various investment applications available. The primary distinctions between different stock trading brokers are primarily in fees and resources supplied. Many of the best stock trading platforms offer zero commission trading. Make sure you consider the variety of exchanges, the commissions and fees, and what margin rates the broker offers. You can buy/sell Block shares with a discount broker like eToro or you can trade Block CFDs with a trading broker like XTB. With eToro, you can buy or sell Block shares offer 0% free commission on stocks and fractional shares.
Should you invest in Block?
Block stock went on a big run starting in 2016. Following its big run, it fell more than 50% in late 2018 as many technology companies also crashed. Not many stocks roar back after a 50% correction. But Block stock clawed back in 2019 and then surged in 2020 as investors focused on the growth of its consumer Cash App. However, Block stock disappointed again in 2021 and continued down about 35% in 2022. Meanwhile, the price of Bitcoin has retreated 42% to near $39,200 since peaking above $68,000 in November.
Down 54.29% in the past six months, SQ stock continues to drop in price. Many may be trying to bottom-fish with this fintech firm. But as the factors that drove its epic decline remain, buying it on weakness has been, and could continue to be, much like trying to catch a falling knife.
The long-term investment thesis for Block remains intact. Nonetheless, investors need to watch the valuation.
Is Block stock a buy right now?
When you’re looking for stocks to buy or sell, it’s important to do the fundamental and technical analysis that identifies lower-risk entry points that also offer solid potential rewards. Block stock is currently not a buy and it likely needs to form a new base to be actionable.
