Here's Why Square Stock Pulled Back 10% in September
Shares of Square (NYSE: SQ) pulled back 10.5% in September, according to data provided by S&P Global Market Intelligence. I believe the drop can be attributed to general market volatility; the S&P 500 was down almost 5% for the month. I don't believe the drop resulted from a problem with the business because everything Square announced in September was positive.
During September, Square didn't update financial results but it did make some product announcements. For example, the company made progress in its international expansion plans. On Sept. 16 it announced small businesses in Spain could get early access to its suite of products launching there. And on Sept. 21 it announced it had officially launched in France following success with an early access program like the one it has in Spain.
Image source: Square.
Source Fool.com
