Growth stocks of all kinds have been pummelled in recent weeks. The media would probably leave you thinking it is due to interest rates, inflation worries, or whatever else is the flavour of the day.
I personally don’t know why growth stocks suddenly fell out of favour among Wall Street, but one thing I do know is that there are bargains to be had if you know where to look.
One such bargain is in payments leader Square.
Square Inc is the epitome of the fintech and crypto world. Square operates the merchant, SME (Small/Medium enterprise) space as well as comprehensive P2P payment, crypto and investing ecosystem integrated by Square’s Cash App.
Even with the expected growth for Cash App and recovery within the Seller side, valuation remains quite high with a fair amount of future earnings growth looking to be priced in by the market, even though revenues could serve as a key driver of share upside...