Why Square Stock Fell Today

Chris Neiger, The Motley Fool
·2-min read
Why Square Stock Fell Today

Shares of Square, Inc. (NYSE: SQ) tumbled today after the company announced that it would purchase a majority ownership stake in the music-streaming company, TIDAL. Jay-Z, who bought TIDAL just six years ago, will join Square's board of directors. Square said in a press release that it will pay a mix of cash and stock worth $297 million for TIDAL.