Block Shares Decline 4.9% Amid Square Service Outages
September 08 2023 - 11:51AM
Dow Jones News
By Dean Seal
Shares of Block, the corporate name for the payments platform
Square, edged lower amid widespread outages on Thursday and
Friday.
The stock was down 4.9% at $53.30 in late morning trading.
Shares have fallen 15% so far this year.
Square said on Thursday night that it was experiencing a
disruption that was impacting some services.
On Friday morning, the company posted on X, formerly known as
Twitter, that "services are steadily regaining their
functionality."
Square is best known for its signature white credit-card readers
that merchants can use to accept payments from customers. Block is
also the developer of Cash App, a mobile app that allows users to
send money to one another.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
September 08, 2023 11:36 ET (15:36 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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