Why Square Gained 24.4% in April
Square (NYSE: SQ) provides seller tools and financing to small- and medium-sized consumer-focused businesses, as well as a peer-to-peer payment app geared toward individuals.
Square's share price was battered at the peak of market panic, down 63% from $87.25 in February to a low of $32.33 in March. Yet in April, Square reversed the trend, notching a gain of 24.4% according to data provided by S&P Global Intelligence.
A major factor in the March drop was the closure of brick-and-mortar businesses around the country -- Square's bread-and-butter customers -- due to the coronavirus crisis.
Source Fool.com
