Why Shares of Shift4 Payments Fell Today
Shares of the payment processing company Shift4 Payments (NYSE: FOUR) fell nearly 11% today. There seems to be some news surrounding the company and potentially driving the move.
The company released a brief update on October payments volume, saying payments volume in October grew 80% from October 2020, while active merchant counts have jumped 25% on a year-over-year basis. But seeing as this is good news, it is unlikely to have driven the stock down.
What seems to be driving the dip has to do with recent news regarding an FBI raid of the U.S. operations of the Chinese company Pax Global Technology, a maker of payments terminals.
Source Fool.com
