Block (NYSE:SQ) stock is on the move Friday despite a lack of news from the payment services company.
Block, which formerly went by the name Square, hasn’t released any press releases or filings with the U.S. Securities and Exchange Commission (SEC) that would explain today’s movement. There’s also no upcoming news that would be moving SQ stock. That means we have to consider outside factors.
First off, we have to note that SQ stock isn’t seeing as much trading as it normally does. As of this writing, not even 9 million shares of the company’s stock have changed hands. That’s incredibly light movement compared to its daily average trading volume of about 20.5 million shares.
SQ stock’s activity over the last month could also help explain today’s dip. The stock has been on an upward trend lately with shares rising nearly 8% over the last month. It could be that today’s drop is a pullback after that rise.
If that’s the case, it could mean we continue to see shares of SQ stock rise higher after today’s drop. That would make sense as the stock is still recovering from recent blows to the overall market. As of this writing, the stock is still down 21.5% since the start of the year. That means now might not be a bad time to pick up shares of SQ stock before more potential gains.
SQ stock is down 4.4% as of Friday afternoon.
Investors looking for more stock market news today will want to keep reading!
We’ve got all the hottest stock market news that traders need to know about for Friday. That includes what’s happening with Rivian (NASDAQ:RIVN) stock today, why shares of Clever Leaves (NASDAQ:CLVR) stock are on the rise, as well as bull and bear arguments for Roblox (NYSE:RBLX) stock. You can check out all of this news by following the links below!
More Stock Market News for Friday
- Rivian Stock: Why Is RIVN Down Today?
- Why Is Clever Leaves (CLVR) Stock Up Today?
- Is RBLX Stock a Buy? What the Bulls and Bears Are Saying About Roblox.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
