Hi Moimoi,The bears are certainly winning at the moment. Block...

Hi Moimoi,
The bears are certainly winning at the moment. Block is trading at historic lows on a price to sales of about 1.7. The stock is down 80% from its highs. Pretty depressing really. What I like to do when my stock is down is look if this is reflected in how the business is doing. So
1. cash App has been killing it. Revenue and gross profits up over more than 30% from memory. Monthly active user up. More engagement per user. Nearly every metric tracking in upwards direction.
2. Many a bear has been predicting Square was going to get crushed by high interest rate and inflation. Well it hasn’t happened yet. Revenue and Gross Profit up more than 10% from memory. It has demonstrated that it has been successful in its stated objective of going upmarket and going international
3. The Afterpay merger. Nothing has really happened yet. I am a little frustrated by its slow progress but I suspect Jack has been working with his team to put the building blocks in place to turn Cash App from a finance app into a finance/shopping app. The centrepiece I suspect will be a new Cash App OS and UI. If I know Jack it will be rather beautiful in its design and customers will love it. No one in the markets are talking about this.
I am only a hobby investor and could be totally wrong so DYOR and best of luck with your investing. Hope you make some money.