Why Block Stock Is Falling Today
Shares of Block (NYSE: SQ) sank in morning trading Thursday as the point-of-sale device maker formerly known as Square continued to feel the aftershocks of PayPal's (NASDAQ: PYPL) distressing fourth-quarter earnings report, which sent the entire payments sector into a tailspin on Wednesday.
Block lost more than 10% Wednesday, while PayPal lost almost a quarter of its value. As of noon ET Thursday, Block was off by another 8.2% from the previous close.
Image source: Block.
Source Fool.com
