Why Square, Inc's Shares Popped in October

Shares of payment processing company Square, Inc. (NYSE: SQ) popped 29.1% in October, according to data provided by S&P Global Market Intelligence, riding a wave of excitement around the company starting a bank and introducing a product that could grow its list of large retail customers.

News of the Square Financial Services application to run a bank that could offer loans to small and medium-sized businesses broke in September, but the stock has been slowly rising ever since. To add to that product extension, Square Register was introduced late in October as a solution for larger retailers who are doing high volume sales at a stationary register. The product has two screens, one for the buyer and one for the seller, and can swipe any type of credit card.

Image source: Square.

Source: Fool.com