High-profile fintech company Block (NYSE: SQ) had some good news from north of our border to report on Thursday. Block revealed Thursday morning that its core fintech brand Square has launched its Square Loans services in Canada. In the case of Block and Canada, investors are probably also happy that this rollout is happening in a fertile environment. Read More...
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Block trades at 2.9 times sales, which is noticeably lower than its primary rival, PayPal Holdings, which trades at four times sales. This is despite Block’s impressive improvements last year, where 2021 gross profit jumped 62% year over year to $4.4 billion. The Cash App ecosystem was the primary driver of this, boosting gross profit 69% year over year last year.
