Why Square Stock Dropped Today
Shares of mobile payment processor Square (NYSE: SQ) dropped today, down by 4% at the close, amid a broad market sell-off due to fears about the COVID-19 pandemic. Separately, Square announced a new delivery service and a Wall Street analyst released a bullish research note.
The U.S. is seeing sharp increases in new coronavirus cases in various states around the country. Investors had driven the stock market to new highs on hopes that the worst of the pandemic was in the rearview mirror, but moves to ease lockdown restrictions in order to reopen the economy are contributing to a startling resurgence.
Image source: Square.
Source Fool.com
