They do own something, tangible assets although they seem to do nothing, I've had their stock all the way down, but it seems to be coming back. Although I have no idea why it dropped or why it is coming back.
Being in the credit card processing business, I can't see how Square could make money, unless they change their pricing, but then who will need them?
So far they keep loosing, and projecting they will make next quarter, but it hasn't happened yet. I guess Amazon finally picked up, maybe Square will but when.