Here's Why Square Is Down Today While the Stock Market Is Rising

The stock market is having a fairly strong day on Thursday after a multiday slump caused by renewed COVID-19 fears. At 10:20 a.m. ET, the S&P 500 index was higher by about 0.6%. However, not all stocks were having a good day. Fintech giant Square (NYSE: SQ) was a major underperformer, its shares having declined by about 3.5%.

There are two likely explanations for Square's underperformance. First, it's worth noting that the tech sector is one of the worst performers of the day. The tech-heavy Nasdaq is hovering around the flatline. So some of the underperformance can be attributed to sector weakness.

Image source: Square.

Source Fool.com