Square Inc. Lower For Second Day In A Row Following Its IPO

Square Inc. NYSE: SQ) shares are trading lower by $0.40 at %$12.45 in Monday's session. The issue, which debuted on Thursday, has yet to trade outside of parameters set on the first day of trading. On that day, it peaked at $14.79 and bottomed at $9 before ending its first session at $13.07. That closing price has turned out to be resistance as it settled on $12.85 on Friday, but found willing sellers above that level at $13.15 in today's session. The ensuing decline has taken the issue to $12.10 before rebounding to its current level. Joel Elconin is the co-host of Benzinga;s #PreMarket Prep, a daily trading idea radio show.

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