While Snap (SNAP) is hoping it can mimic Facebook (FB) and bounce back from a disappointing IPO, payment processor Square (SQ) has already made a nice run — and may be getting ready to take off again.
Autoplay: On | OffLike Facebook and Snap, Square got off to a slow start following its November 2015 initial public offering.
After about 14 months of roller coaster action, Square finally launched a solid run at the beginning of this year, rising as much as 87% before pulling back from the all-time high of 27.97 that it hit on July 27.
Interestingly, it took Facebook about the same amount of time from its May 2012 IPO until the social media giant launched its big move with a July 2013 breakout. It remains to be seen if Snap can pull off that same feat.
Taking A Page From Amazon
Based in San Francisco, Square provides point-of-sale payment processing solutions that help merchants of all sizes start, run and grow their businesses. Founded in 2009, the company has expanded internationally, with offices in Canada, Japan, Australia, Ireland and the United Kingdom.
Just as e-commerce behemoth Amazon (AMZN) has entered the brick-and-mortar world with its purchase of Whole Foods Market (WFM) and the opening of physical bookstores and Amazon Go grocery stores,…