Square Inc (SQ) Shares Surge on Visa (V) Stake

Share

While shares of Square Inc (NYSE:SQ) have been beaten down as of late, along with Jack Dorsey’s other company Twitter’s stock, Dorsey and the rest of the Square shareholders have something to cheer about this morning.

Visa (NYSE:V), one of the world’s largest credit card companies, today announced that they had taken a 10% stake in Square Inc (NYSE:SQ), worth approximately $30 million. This move will provide Visa with a a sizable stake in a financial tech company that is already making waves. While Square’s (NYSE:SQ) stock had been struggling after a rather disappointing IPO back in November of last year, dropping close to 40% at one point, this move by Visa should do a lot to alleviate any lack of confidence in Square’s management.

Shares of Square Inc (NYSE:SQ) are trading up $1.11 or 12.92% in the pr-market this morning, while shares of Visa are up slightly in pre-market trading as well. The stock decreased 0.35% or $0.03 during the last trading session, hitting $8.59. Approximately 95,478 shares traded hands. sq shares have risen 6.00% since January 13, 2016 and are currently uptrending. It has outperformed the S&P500 by 14.87%.

Square, Inc. provides financial services and marketing services. The company has a market cap of $2.82 billion. The Firm also provides payments and point-of-sale (POS), which include hardware and software to accept payments, streamline operations, and analyze business information. It currently has negative earnings. The Company’s payments and POS services include In-Person Payments, Online Payments, Square Cash, Square Register, Square Analytics, Square Appointments and Square App Marketplace.

#focuskw=’Square Inc (NYSE:SQ)’##metadesc=’While shares of Square Inc (NYSE:SQ) have been beaten down as of late, along with Jack Dorsey’s other company Twitter’s stock, Dorsey and the rest of the Square shareholders have something to cheer about this morning. Visa (NYSE:V), one of the world’s largest credit card companies, today announced that they had taken a 10% stake in Square Inc (NYSE:SQ), worth approximately $30 million. This move will provide Visa with a a sizable stake in a financial tech company that is already making waves. While Square’s (NYSE:SQ) stock had been struggling after a rather disappointing IPO back in November of last year, dropping close to 40% at one point, this move by Visa should do a lot to alleviate any lack of confidence in Square’s management. Shares of Square Inc (NYSE:SQ) are trading up $1.11 or 12.92% in the pr-market this morning, while shares of Visa are up slightly in pre-market trading as well. ‘##metarobot=’index’##newskw=’Zafgen Inc positive news,Zafgen Inc – (NASDAQ:ZFGN),NASDAQ:ZFGN Analyst rating analysis,Stock Analysis,Outlook and potential,ZFGN Price change and trend,ZFGN stock update’##sitemap=’include’##skipsocial##stockticker=’NYSE:SQ’#

COMMENTS: