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Technology Stocks : Block, Inc. (formerly Square)

SQ 76.80

+1.1%

Oct 2 3:59 PM EST

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From: AmigaComputer	6/26/2019 10:55:18 AM
	of 66

Square could be getting into a big risk position with little payoff as the company has quietly began moving into the cannabidiol (CBD space). Although most Americans support marijuana legalization today with, surprisingly, some Republicans advocating its legalization as well, marijuana remains illegal under federal law. I believe because this plan still has the Schedule I classification. Meaning the federal government the feds could crack down on cannabis firms at any time. Because of that this has unsurprisingly kept traditional financial institutions from going near CBD companies. But because many small CBD businesses are desperate for cash inflows, Square can obviously help bring legitimacy to this industry, which may lift Square stock.

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