Square’s Cash App Launches Clothing Line Because Clearly Bitcoin And Stocks Are Not Enough
Square Inc (NYSE: SQ) Cash App is launching a clothing line that it calls, loosely enough, “Cash.”
What happened: The launch of the clothing collection was announced on Twitter by Cash App.
The fall-winter collection– composed of leisure clothing – includes sweaters and sweatshirts and extends to raincoats and t-shirts ranging from $ 60 to $ 200.
Square’s brightly colored clothes are modeled by some rather unsettling 3D models on its website, which frantically rotate 360 degrees or make questionable dance moves when pressed.
Customers who choose to pay using the Cash app can save 25%, according to the company’s website.
Why is this important: The Cash app offers payments, banking, payment card, and stock and Bitcoin investments.
Last month, Mizuho analyst Dan Dolev raised his price target for the company headed by Jack Dorsey from $ 225 to $ 300 as Cash App makes its foray into territories where PayPal Holdings Inc (NASDAQ: PYPL) enjoys great popularity.
Dolev noted that Cash App is expanding its monetization strategy and focusing on its business platform and debit card.
In November, it was reported that the app’s Bitcoin revenue increased 100% in the third quarter.
Price action: Square shares closed up 1.75% at $ 205.53 on Thursday.
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