Shares of Square (NYSE: SQ), a digital payments company, fell today after the price of bitcoin plunged.
The tech stock was down by as much 6.3% today and was down by 5.3% as of 2:57 p.m. EST.
Square's Cash App is a popular way for users to make peer-to-peer payments, but it's also used to buy and sell bitcoin. As the price of bitcoin tumbled to below $32,300 today -- down from $41,800 on Friday -- investors appeared to flee Square's stock.
Source Fool.com