Why Square Stock Skyrocketed 248% in 2020

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2020 was a great year for Square‘s (NYSE: SQ) investors. The digital payments and financial services leader delivered gains of nearly 250% last year, according to data from S&P Global Market Intelligence. Better still, Square’s shareholders could be in store for even more gains in the year ahead.

Here’s why.

COVID-19 is accelerating the shift away from cash and toward digital forms of payment. Square is helping to enable this trend. The fintech company’s payment-processing services allow merchants to quickly and easily accept credit and debit card transactions, while its popular Cash App lets people digitally send and receive money.

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