Here’s Why Square Was Falling on Thursday

Fintech giant Square (NYSE: SQ) has been one of the best-performing stocks in the market recently, gaining more than 50% since the beginning of June. However, it isn't exactly having a great day on Thursday. As of 3 p.m. EDT, Square was down by about 5% on the day.

Some of Square's decline on Thursday can be attributed to general market weakness. The latest unemployment claims data was released this morning and came in significantly higher than expected, and we haven't seen any concrete signs of progress when it comes to the highly anticipated stimulus bill that is currently being negotiated. As a result, the S&P 500 was down by 1.3% and most other major stock indices were lower as well.

Image source: Square.

Source Fool.com