Why Square Stock Popped Today
Shares of Square (NYSE: SQ) rose on Wednesday after the financial services company announced a slate of new banking products. As of 2:35 p.m. EDT, Square's stock price was up more than 4%.
Square Banking is geared toward helping small businesses better manage their cash flow. Square Banking's initial products will consist of Square Checking, Square Savings, and a rebranding of the company's Square Capital business financing operations, which will now be known as Square Loans.
"Small businesses are the heartbeat of our communities and our economy," Square executive Christina Riechers said in a press release. "From our earliest days, Square has focused on building easy-to-use tools and services to empower entrepreneurs to succeed on their own terms."
Source Fool.com
