Holder of Block (XYZ) at a $169 cost basis considers liquidating before year-end to offset gains, doubting a return to prior $200+ valuations.
XYZ — AVOID The author has held 100 shares of Block since early 2020 at a $169 cost basis and now views it as a long-term underperformer. Their original thesis was Cash App and the Square product suite, but they doubt the stock will return to its early-year valuations above $200. They are considering liquidating toward the end of the year to offset profits on other securities, and would only hold longer if there were good tidings ahead.
I do think they will be still pretty good in the future, but I doubt they will get back to the heydey of their early years of above $200 evaluations. I am thinking of liquidating it towards the end of the year to balance out some of my profits on other securities.