Square Pegged After Mixed Q1 Report

Square Inc.

shares are trading lower by

are trading lower by $2.56 at $10.50 or 20 percent in Friday's session. After a mixed Q1 report, missing on EPS by a nickel, but beating on revenues by nearly $40M, the issue is under selling pressure. After a lower open, it managed a brief pop to $11.19 before sellers swarmed the issue. The ensuing decline has taken the issue to $19.34 and it is not far off that level. The current low coincides with a series of lows at the $10.20 area from late February.