Is Block Stock a Millionaire-Maker?
The fintech giant has fallen on some hard times.
Block (NYSE: XYZ) stock, when it was formerly Square, was a market darling that soared quickly and was seen as the face of the fintech revolution. But it's made a few missteps, earning severe market pessimism. Although it has grown quite nicely over the past few years, Block stock is 77% off its all-time high. Let's see what's happening at Block and whether or not it can be a millionaire-maker stock.
Block first came onto the scene with its white, square-shaped credit card reader that could attach to a smartphone to accept payment. It was a truly innovative concept that added real value for merchants, democratizing commerce and helping small businesses become bigger players. That business developed into what's still called the Square Sellers business.
Although much attention has been given to Square's other businesses, the sellers business continues to resonate with its core small business clientele and generate growth. In the 2025 first quarter, Square gross payment volume (GMV) increasd 8.2% year over year (currency neutral), and gross profit was up 9%. Customers appreciate the platform's ease of use and technological expertise, and the company is rolling out new features targeting niche business types to make it even more valuable. For example, it offers restaurants the ability to set up integration with DoorDash and Uber's Uber Eats in minutes.
