Square is set to break out

Back in October of 2019 I did a YouTube video review of Square the stock. In this review I spoke about the possibility of growth with Square and one of the main factors was the fact that Square owns Cash App.

Square has gone up 11% since then. My theory then was that the Cash App segment of square has been resonating with young millennials meaning Millennials 25 and under.

I was once at a party and we were all talking about leaving to go to another party.

I overheard a group of kids saying they wanted to go to that party as well and within two minutes they all came together and crowdfunded an Uber to the next party.

Everyone started Cash Apping money to one particular person and then that person ordered the Uber.

When this happened in front of my eyes I thought to myself wow this app has some serious social power. This is clearly something that is engrained within this younger generation.

People who are my age 30's are just warming up to Zelle and most of us are still very skeptical about online money transfer services between bank accounts.

Well Cash app is just that and more. In addition to having people transfer money between each other using the cash up service at the time I did the video they came out with an announcement that they meaning Square the parent company of Cash App was going to allow its users  to start purchasing stocks specifically fractional shares.

And I thought this was a brilliant idea. For the simple fact that Cash app has a large user base amongst younger people meaning people under 25, college kids who don't have a lot of money to purchase full shares but with the fire movement going on most kids are now aware that you can achieve Financial Independence and retire early by being more frugal and investing a great portion of your earnings. That is also a goal for a lot of these kids.

Squares CEO Jack Dorsey who is also the CEO of Twitter obviously has its ear to the ground and spotted this trend.

He has now given this same group of millennials the ability to not only transfer funds and make purchases with Cash App but also to start investing in their future during a time when investing is becoming very easy for almost anyone with a smartphone and access to apps like Robinhood and Stash.

Well at the time off my article I purchase Square for $61.97 I am now up roughly 11% and stock price today is $68.94 at market close.

Wall Street analyst Dan Dolev has been bullish on Square for some time and today based on  information on Google Trends as well as a guidance from Square, he has raised the price Target to $105 per share.

This is something I would have to agree with as I think the potential for growth has only scratched the surface baring in mind that their stock trading service was only announced in October of 2019 and still has a lot of room to grow.

Let me know what you think of Square's stock in the comment section below let's talk.