Play Square on This Bitcoin Hype

Square, Inc  (SQ) has been caught up in the bitcoin hype -- fair or unfair. Back on Nov. 15, the company announced it would begin a beta test where Square Cash app users could buy and sell bitcoin via the app. The stock soared higher, rising from just below $40 to nearly $50 per share in a week. The stock was swept up in the hype of many unknown smaller names that did little more than include the words blockchain or bitcoin in their description. A few even acquired some computers to mine bitcoin. In reality, there were little to these companies. They will continue to trade on momentum and headlines/hype, but Square should diverge from them quickly.

The company is doing everything right. The bitcoin potential is simply a bonus. A partnership with GoDaddy (GDDY) puts them front and center as the online payment application for some 70 million websites. This moves Square beyond its core business of being a mobile card reader for small businesses....223 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

Read the full story and get access to the Real Money Pro trading floor.

There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.

Already a Subscriber? Please login.

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data & Company fundamental data provided by FactSet. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by FactSet Digital Solutions Group.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

FactSet calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.