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Why Square’s stock price soared and fell today

What’s wrong

Fintech stock square (((NYSE: SQ) After the company announced a major integration of Square App and Cash App, trading on Tuesday increased by 2.7%. Equities fell 0.2% and trading was only a few minutes left, mainly due to the market as a whole falling from the break-even point at the start of trading to just under 1% just before closing.

So what

Square sellers have announced that they will be able to accept Cash App Pay both online and on their devices. This opens up new payment options for businesses and gives customers access to funds in their Cash App account.

Adding payment methods may be a small move, but Square has the biggest impact on basic charges. Most of the approximately 2.9% commission charged to sellers for performing credit or debit card transactions is paid to banks and credit card companies such as Visa and Mastercard. The Cash App to Square integration does not use these networks, so it is Square that maintains the overall price.

So

Square’s ultimate goal has long been to integrate consumer Cash apps with business-focused Square apps. This announcement does just that, and could trigger Square to confuse long-established credit card companies.I am very strong We believe that today’s small bounce should be much greater, even if investors could see a mile ahead of the announcement and the Square ecosystem in general.

Why Square’s stock price soared and fell today

Source link Why Square’s stock price soared and fell today

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