Square's Cash App Launches A Clothing Line Because, Clearly, Bitcoin And Stocks Aren't Enough

Square Inc’s SQ Cash App is launching a line of clothing, which it is referring to, rather congruously, as “Cash.” 

What Happened: The launch of the apparel collection was announced on Twitter by Cash App.

The autumn-winter collection— made up of leisurewear —  comprises of sweaters and sweatshirts and extends to raincoats and T-shirts ranging from $60 to $200.

Square’s brightly colored apparel is modeled by some rather unsettling looking 3D models on its website, which rotate 360 degrees in a frenzied manner, or make some questionable dance moves, when you tap on them.

Customers who choose to pay using the Cash App can save 25%, according to the company’s website.

Why It Matters: The Cash App offers payments, banking, a cash card, and investing in stocks and Bitcoin.

Last month, Mizuho analyst Dan Dolev upped his price target for the Jack Dorsey-led company from $225 to $300 as Cash App makes its foray into territories where PayPal Holdings Inc PYPL enjoys popularity. 

Dolev noted that Cash App is broadening its monetization strategy and focusing on its business platform and debit card.

In November, it was reported that the app’s Bitcoin revenue grew a whopping 1100% in the third quarter.

Price Action: Square shares closed 1.75% higher at $205.53 on Thursday.

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