Block: Buy The Federal Probe Fears, Long Term Story Intact


  • Block remains a compelling investment despite a federal probe into its cryptocurrency transactions.
  • The company reported strong financial results, with gross profits exceeding guidance and adjusted operating income handily beating guidance.
  • Management raised their full-year outlook and reiterated their commitment to profitability, but investors should monitor their blockchain ambitions and use of customer deposits.
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Block (NYSE:SQ) remains a compelling investment even if it appears to be mired in controversial waters. Heading into its latest earnings report, the stock dipped amidst reports of a federal probe into its cryptocurrency transactions. Management dismissed these reports on their call, but

Analyst’s Disclosure: I/we have a beneficial long position in the shares of SQ either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

I am long all positions in the Best of Breed Growth Stocks Portfolio.

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