Why Square Stock Just Dropped 6%
Investment banker BMO Capital raised its price target on point-of-sale payments processor Square (NYSE: SQ) this morning, reports TheFly.com. Having previously valued the stock at $116 a share, BMO Capital now thinks Square is worth nearly every dollar of the $154 the stock's share price closed at last night. (BMO's new target price: $153).
And yet, Square stock plummeted on the news, falling 6% in afternoon trading today. Why is that?
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Source Fool.com
