Here's Why Square Stock Dropped on Monday
The stock market was having a generally negative day on Monday, with the S&P 500 down by about 0.5% at 2:30 p.m. EDT. However, fintech-giant Square (NYSE: SQ) was a major underperformer, down by 5% on the day.
The primary reason for today's decline is that Square announced plans to offer $2 billion in senior notes (aka debt) in a private placement to institutional investors. Square plans to use the money for "general corporate purposes."
Image source: Square.
Source Fool.com
