ASX Top 200 Stocks Down Under 2 May 2022: Block (ASX: SQ2)

ASX Top 200 Stocks Down Under 2 May 2022: Block (ASX: SQ2) 1

Block: Will the ASX’s new golden goose recover from the tech rout?

It’s been 9 months since Afterpay and Block completed the biggest M&A deal in Australian corporate history. But it’s been all downhill since then for Block and the broader tech sector. Block (formerly Square) is integrating Afterpay into its Cash App which has over 70 million annual active transacting users to use the app to pay other people, pay for goods or even trade stocks and crypto. At the moment, we think Block is two stars on concerns about its valuation and slowing growth but it is nonetheless one to watch.

 

Click here to read the previous edition of ASX Top 200 Stocks Down Under published 11 April 2022

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