I sold down a bit today but will keep the rest in SQ.
I’ve thought for a while that eventually APT will have to compete with SQ and vice versa. I think they both realised that and decided to spare each other the hand to hand combat.
Through the Cash App I think Square was going to add more services like BNPL and Afterpay, despite being quiet, knew the future was in some kind of way becoming more what Cash app is now.
I love the long term potential of Cash App and could see SQ as a $1T company. Square also has access to retail customers which will speed up Afterpays growth.
Yesterday’s reaction with massive volume in SQ after being down 5% premarket, shows what large institutions think of the deal. Sometimes best not to complicate and overthink it.
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