Why Block Stock Sank 11% in April
The share price of Block (NYSE: SQ) dropped 11.4% in the month of April, according to S&P Global Market Intelligence. As of May 3, Block is trading at about $59 per share, down roughly 8% year to date.
The major market indexes were all up slightly in April as the S 500 climbed 1.5%, the Dow Jones Industrial Average rose 2.5%, and the Nasdaq Composite ticked up 0.1% last month.
Block is a fintech that runs Cash App as well as Square, which has a suite of products for merchants and sellers. In late March, Square was the subject of a report by short-seller Hindenburg Research, which accused it of inflated metrics, among other charges.
Source Fool.com
