Why Square Stock Slumped 5% Today

Well, that was fast.

Two days ago, Square (NYSE: SQ) stock enjoyed a brief moment in the sun, shooting up by 7% on news that the company had launched a new virtual payday lending service called "On-Demand Pay" which will allow users of its Cash App to draw upon their expected wages in advance "for a small fee."

However, Square has given back all of those gains -- and more.

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Source Fool.com