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Here’s Why Square Is Down 14% Today

TheMotleyFool

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Here’s Why Square Is Down 14% TodayPhoto, wide shot, wide-angle lens, soft focus, IT consulting firm, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Sebastião Salgado: https://oaidalleapiprodscus.blob.core.windows.net/private/org-IbuNdCATsFaPOITjFOv2kJh3/user-AXaxqjBUW45D8BadJEo9mUpW/img-uhXP0RHYYxDepjmHeSp1K8bF.png?st=2023-05-07T15%3A26%3A44Z&se=2023-05-07T17%3A26%3A44Z&sp=r&sv=2021-08-06&sr=b&rscd=inline&rsct=image/png&skoid=6aaadede-4fb3-4698-a8f6-684d7786b067&sktid=a48cca56-e6da-484e-a814-9c849652bcb3&skt=2023-05-07T16%3A18%3A55Z&ske=2023-05-08T16%3A18%3A55Z&sks=b&skv=2021-08-06&sig=4pcJOd8aEI1799liUV13F4ElqO7e4RZy8sa1PEeeNZA%3D

Payment processing company Square (NYSE: SQ) received an analyst downgrade, which sent the stock plunging. As of 2:30 p.m. on Monday, the day of the downgrade, Square had fallen by roughly 14%. Even after today's drop, Square is still up by more than 200% so far in 2017.

Image Source: Square.

In a nutshell, this was Square's first real negative news in some time. The company has handily beaten analysts' expectations for several quarters, is growing at impressive rates, and is doing a fantastic job of building a financial ecosystem for small businesses.

Source: Fool.com