Despite Block's (SQ 2.32%) stock taking a beating over the past year, part of it related to a move into cryptocurrency, it still has plenty of value. In this video clip from "Ask Us Anything" on Motley Fool Live, recorded on June 29, Fool.com contributor Jon Quast discusses two of the company's main growth drivers.
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Jon Quast: I think that Square does have a lot of value in the seller side of its ecosystem, in the consumer side of its ecosystem with the Cash App. Those two parts of the businesses are still growing tremendously.
It's amazing the seller side of the ecosystem how many more services and tools they can offer merchants to grow their businesses. I think that that's really valuable. I think it's why they can continue to grow that side of the business.
Cash App, that's really a network effect business. The more people join Cash App, the more it makes sense for other people to join Cash App and be able to exchange funds with friends and family very easily, and so yeah, these are big growth engines for Square. I think that they are valuable.
