Square Delivers Strong Growth But Questionable Strategy Raises Concerns

Strong growth in gross profits for both Square and Cash App businesses in latest quarter and full year
Shift to target mid-market businesses should improve customer retention and ability to cross-sell services
Cash App successfully monetizing large user base through services like Cash Card, stock trading, and Bitcoin
However, poor capital allocation decisions like Tidal and Afterpay acquisitions raise concerns
Bitcoin obsession and lack of accountability for CEO Dorsey are red flags on management