SQ Archives - FaithMight

Since the price of Block reached its all-time high in August 2021 at $289.05, the bears have aggressively taken over the market. The monthly chart of $SQ throughout the year 2021 showed a ranging market. The price at the beginning of Q4 2021 was at $255.88. Q1 2022 began at $162.87, that’s about $100 loss in the space of one quarter. We wrote an article in December 2021 of a continued bearish trend of $SQ. At the time the article was written, price of $SQ was at $192.15. The price of Block as of 9th of June 2022 closed at $76.58.

Will the price of $SQ fall to the 2020 lockdown lowest price at $34.28? The company has lost 9.64% in the last 24hrs, lost 7.85% in the last 7 days and in the last one year, it has lost 63.57%. The market cap of the company is currently at $44.45billion. There are still no hopes of price rallying soon as price might still continue to range or fall further in the coming months. Investors have no choice at this time but to be patient as the effect of the newly introduced blockchain technology to $SQ could make the price rally in the second half of 2022.

Some of these ideas are in our clients’ portfolios. To understand if this one can work for you or for help to invest your own wealth, talk to our advisors at FM Capital Group. Would you like more information on how to get stocks in your portfolio? Schedule a meeting with us here

After 6 years of Square being listed on the stock exchange, the CEO Jack Dorsey, who owns 24.4% of the company, changes its name to Block. The main reason for changing the name is for expansion as the company intends to focus on new technologies such as blockchain. Before now, Square was known for digital payments with a focus on point-of-sale terminals and auxiliary equipment to process debit cards. Since its IPO in 2015 at $9, the share price has done 31X as it reached an all-time high in August 2021 at $289.05.

The lowest price of $SQ during the lockdown was $38.02. As the lockdown eased up, price appreciated above $200 before the end of last year. The price movement of $SQ in the last 11 months has been between $192.15 and $289.05. The range in the weekly and monthly chart has been broken to the downside this week as the price reached $185.72. $SQ is currently not showing an indication of a price reversal to the upside. Since the day Square has been changed to Block, the price of $SQ has gone south.

Some of these ideas are in our clients’ portfolios. To understand which ones can work for you or for help to invest for your own wealth, talk to our advisors at FM Capital Group. Would you like more information on Investment Advisory, Portfolio Services, and VC? Schedule a meeting with us here.

Tag: SQ

Block, Formerly Square, Loses More Than 50% Of Its Value In 2022

Will The Name Change of Square To Block Affects Its Share Price?