Top Performing Cash App Stocks

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Stock investing allows individuals to build wealth and receive cash flow from dividend-paying investments. Cash App, owned by Block Inc. (NYSE: SQ), is one place you can go to buy stocks and save up for retirement. The app lets you invest in stocks, but some stocks are better than others. This list details some of the best Cash App stocks for people looking to diversify their portfolios.

Quick Look at the Top Performing Cash App Stocks:

Deep Dive

A diversified portfolio gives you more opportunities to increase returns and extra protection from downside risk. These Cash App stocks are some of the top choices to consider.

1. Apple Inc. (NASDAQ: AAPL)

Apple enjoys high profit margins from its iPhones, MacBook products, iPads, wearable devices and other offerings. The company is closing in on a $3 trillion valuation and is Warren Buffett’s largest holding. Apple’s board authorized a $90 billion stock buyback in Q1 2023.

2. NVIDIA Inc. (NASDAQ: NVDA)

NVIDIA is a semiconductor company that finds itself in the center of the AI boom. Artificial intelligence tools need custom-made AI chips to operate smoothly, and NVIDIA is the top producer.

3. Shopify Inc. (NYSE: SHOP)

Shopify is an e-commerce company that provides small businesses and large corporations with online stores. Shopify has an app store filled with valuable resources that make it difficult for businesses to part ways with the e-commerce giant.

4. Visa Inc. (NYSE: V)

Visa is a bellwether stock that investors use to gauge the economy’s health. The credit card company enjoys profit margins between 45% to 55% in most quarters.

5. Bank of America Corp. (NYSE: BAC)

Bank of America is the second largest bank by market cap and is deemed by the Federal Reserve as “too big to fail.” The company was a big winner during the Silicon Valley Bank failure, bringing in an additional $15 billion in deposits within days as consumers put their money in larger, more established banks. It’s a safe name in banking that provides more certainty than regional banks.

6. Amazon Inc. (NASDAQ: AMZN)

Amazon has several business segments wrapped into one entity, but the company got its start in e-commerce. While e-commerce is Amazon’s claim to fame, Amazon Web Services (AWS) makes up the majority of the company’s profits. 

7. Broadcom Inc. (NASDAQ: AVGO)

Broadcom is another semiconductor stock set to benefit from the rising demand for artificial intelligence (AI) tools. The company produces AI chips and other semiconductors that are vital for everyday devices and products. Broadcom also enjoys healthy profit margins, which have supported generous dividend hikes.

8. Alphabet Inc. (NASDAQ: GOOG)

Alphabet (Google) is the leader in online advertising and has a dominant presence in the industry. The company lets business owners promote their products and services on Google’s search results and in YouTube videos. Google has initiated cost-cutting measures to expand profit margins.

9. Adobe Inc. (NASDAQ: ADBE)

Adobe creates, maintains and updates software products that increase productivity and help businesses serve their audiences. Adobe’s recent ventures into AI have helped the company attract new customers. Firefly has been a hit and allows users to generate commercially safe images with AI tools.

10. Airbnb Inc. (NASDAQ: ABNB)

Airbnb lets hosts list rooms and housing units on the app to accommodate guests. The company earns a percentage of each sale without having to own properties and manage all the upkeep. Airbnb is a profitable company with double-digit revenue and earnings growth.

Is Cash App Safe for Stocks?

Cash App is a safe place to buy stocks. The app uses data encryption and multiple security locks to keep your account and assets safe. Users also receive push notifications when their accounts are in use, making it easier to detect and respond to fraud.

How Do You Buy Stocks on Cash App?

Cash App users can add funds to their accounts via bank account transfers. It’s also possible to do banking with the Cash App and direct paychecks into your account. Once you have cash in your account, you can go into your brokerage account and buy stocks.

Other Top Brokers for Buying Stocks

Cash App is an all-in-one solution for people who want to more effectively manage their finances. However, Cash App is not the only choice for stock investing. These are some of the other top brokers to consider.

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Best For

Active and Global Traders

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get started securely through Interactive Brokers’s website

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Best For

Active and Global Traders

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1 Minute Review

Interactive Brokers is a comprehensive trading platform that gives you access to a massive range of securities at affordable prices. You can buy assets from all around the world from the comfort of your home or office with access to over 150 global markets. Options, futures, forex and fund trading are also available, and most traders won’t pay a commission on any purchase or sale.  

IBKR is geared primarily toward experienced traders and investors but now with the availability of free trades with IBKR Lite, casual traders can also acclimate to IBKR’s offerings.

Best For

• Access to international markets
• Active traders
• Detailed mobile app that makes trading simple
• Wide range of available account types and tradeable assets

Pros

• IB SmartRouting provides significant price improvement vs. industry
• Fractional trading allows investing regardless of share price
• Industry’s lowest margin rates
• Earn more by lending your fuly-paid shares

Cons

• Beginner investors might prefer a broker that offers a bit more hand-holding and educational resources

Best For

Leveraged Trading

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get started securely through Plus500’s website

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Disclosure: 82% of retail accounts lose money

Best For

Leveraged Trading

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82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Plus500 is an online CFD broker focusing on contracts for difference (CFDs). CFDs are similar to binary options in the U.S. where traders take all-or-nothing speculation on the prices of certain securities like indices, commodities or currencies. While not legal to trade in the U.S., CFDs are legal in many jurisdictions across the globe and Plus500 offers a wide array of tradable markets using these instruments. 

Plus500 doesn’t charge commission and only profits off the spread, which is the difference between the buy and sell price of a specific security. But Plus500 is not a broker for beginners — the education materials are sparse and CFDs are risky derivatives capable of sapping out all of an investor’s capital. Only trade these instruments if you understand how they operate and the risks involved with buying them.

Best For

• Traders looking for a smooth mobile experience

Pros

• Great mobile app
• Low spreads and commissions
• Unlimited demo account

Cons

• Only derivatives are available
• Not open to U.S. residents

Best For

Trading Ideas

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get started securely through public.com’s website

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Trading Ideas

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Public is the only investing platform that lets you trade stocks, ETFs, crypto, bonds, options and alternative assets—like fine art and collectibles—all in one place. Public also provides access to custom company metrics, live shows about the markets, and insights from a community of millions of investors, creators, and analysts.

Today, Public provides more ways to create a diversified portfolio than nearly any other online broker. Members can engage in sophisticated investing strategies and access a wealth of investing insights—from company-specific analysis to live audio shows and town hall-style Q&As. In addition, Public offers a premium membership tier with unique company KPIs, detailed performance metrics, and institutional-grade research. 

 

Best For

• Stock and ETF investors
• Crypto investors
• Investors looking to diversify with alternative assets or bonds and options

Pros

• Commission-free stock and ETF trading
• Fractional share investing
• Advanced data, tools, and insights with Public Premium

Cons

• You can’t transfer crypto to another wallet
• No mutual funds or precious metals
• At this time, only offers individual brokerage accounts and not IRAs

Best For

Beginners

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get started securely through Robinhood’s website

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Best For

Beginners

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Robinhood is a popular trading platform known for its commission-free trades and user-friendly mobile app. Ideal for novice investors, Robinhood makes it easy to buy and sell stocks, ETFs and cryptocurrencies. The platform offers a straightforward, no-frills experience, making it accessible for users new to investing. With features like fractional shares and a sleek interface, Robinhood lowers the barriers to entry for investing, allowing users to start with just a few dollars. It lacks the advanced tools and research options that more experienced investors might seek. Overall, Robinhood is a great choice for beginners seeking a simple way to invest.

Best For

• Beginners looking for simplicity
• Mobile-first investors
• Commission-free trades

Pros

• User-friendly mobile app
• Instant double
• Cash management
• Access to cryptocurrencies

Cons

• Limited research tools
• No mutual funds available
• Basic customer support options

Best For

Active Short Sellers

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get started securely through TradeZero’s website

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Best For

Active Short Sellers

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TradeZero is an online broker and free stock trading platform that provides everything you need to successfully share and trade, including round-the-clock customer support. TradeZero provides four different trading state-of-the-art software programs with its services, a locator for sourcing shares for shorting, commission-free trades, and real-time streaming, to name a few of the features promoted on their website. The software is a unique and (potentially) affordable option for anyone interested in stock trading.

Best For

• Traders seeking high transparency and mobility in a stock trading program
• Those attracted to commission-free trades
• Those seeking a free version of a high-quality trading program

Pros

• 24/7 live customer support
• Uses ZeroWeb technology, a powerful level 2 online platform with direct market access
• Mobile app allows users to access stocks and trade in real-time while on the go

Cons

• Enforces Pattern Day Trading restrictions (accounts need to maintain a daily equity balance of at least $25k)
• Mobile app could offer more features

Frequently Asked Questions 

Best Cash App Stocks Methodology

The methodology for picking Cash App stocks focused on top stocks with large market caps that are among the top leaders in their respective industries. Companies also needed to be profitable to make the list.

The post Top Performing Cash App Stocks by Marc Guberti appeared first on Benzinga. Visit Benzinga to get more great content like this.