Why Block Stock Dropped Today
A funny thing happened to Block (NYSE: SQ) stock today (well, funny unless you own it -- if you own it, it's just weird). Investment megabank Goldman Sachs initiated coverage of Block (formerly known Square) with a coveted buy rating and a $173 price target implying 22% upside in the stock.
But instead of going up in response to the upgrade, Block stock went down 3.3% as of 1:50 p.m. ET.
Image source: Getty Images.
Source Fool.com
