Why Square Stock Is Giving Away Gains From Yesterday
Shares of the payments company Square (NYSE: SQ) traded roughly 7% lower in the final half hour of trading for no apparent reason.
The company, which facilitates credit card transactions for many small and large businesses, has had a couple of notable events occur over the past few days.
Most recently, the fintech, which secured an industrial banking license last March, launched Square Financial Services, a banking unit within the company that will be able to make loans to small businesses. The bank will also enable Square to offer Federal Deposit Insurance Corporation (FDIC)-insured deposit accounts.
Source Fool.com