Here's Why Block (Square) Is Plunging Today
The stock market's May slump continued on Monday, with all three major averages firmly in the red and tech-focused stocks getting hit harder than most. But fintech giant Block (NYSE: SQ) -- better known as Square -- was a major underperformer. As of 2:30 p.m. ET, Block shares had lost 16% for the day.
Despite the fact that we're in the middle of earnings season, that isn't the reason for today's decline. But there are a few potentially negative catalysts to mention.
Image source: Block.
Source Fool.com