U.S. markets closed
  • S&P 500

    4,246.59
    -8.56 (-0.20%)
     
  • Dow 30

    34,299.33
    -94.42 (-0.27%)
     
  • Nasdaq

    14,072.86
    -101.29 (-0.71%)
     
  • Russell 2000

    2,320.07
    -6.07 (-0.26%)
     
  • Crude Oil

    72.48
    +0.36 (+0.50%)
     
  • Gold

    1,860.20
    +3.80 (+0.20%)
     
  • Silver

    27.81
    +0.12 (+0.42%)
     
  • EUR/USD

    1.2133
    0.0000 (-0.00%)
     
  • 10-Yr Bond

    1.4990
    -0.0020 (-0.13%)
     
  • GBP/USD

    1.4077
    -0.0006 (-0.04%)
     
  • USD/JPY

    110.0930
    +0.0590 (+0.05%)
     
  • BTC-USD

    40,307.03
    -99.14 (-0.25%)
     
  • CMC Crypto 200

    995.03
    -15.57 (-1.54%)
     
  • FTSE 100

    7,172.48
    +25.80 (+0.36%)
     
  • Nikkei 225

    29,441.30
    +279.50 (+0.96%)
     

Why Square Stock Just Dropped 6%

·2 min read
Why Square Stock Just Dropped 6%
  • Oops!
    Something went wrong.
    Please try again later.

Shares of point-of-sale credit card processor Square (NYSE: SQ) skidded 6% on the Nasdaq as of 12:25 p.m. EDT on Monday, just a few days -- but only two trading days -- after the company blew away analyst estimates in its fiscal Q1 2021 financial report. It also reported its third straight profitable quarter, a quarter that was: (1) much better than its year-ago quarterly loss, (2) more than twice as profitable as analysts had predicted, and (3) secured the company's longest quarterly "winning" streak of profitable quarters ever. Today, however, the company has already given back all those gains and is actually trading below what its stock cost before the earnings news was released.