Why Was Square Stock Falling on Wednesday?
The stock market was having a mildly negative session on Wednesday, with the S&P 500 down by about 0.3% shortly before the end of the trading day. However, fintech giant Square (NYSE: SQ) was a notable underperformer -- as of 3:45 p.m. EDT, shares had fallen by more than 5%.
This move might seem odd given all of the hype surrounding Bitcoin and other cryptocurrencies. Coinbase completed its long-anticipated direct listing today, and shares were trading for about 30% more than their initial reference price.
Image source: Square.
Source Fool.com
