Finance

Square had its worst day ever

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Jack DorseyJeff Chiu/APJack Dorsey, CEO of Square.

Square is sinking like a stone.

The payment-tech firm’s stock dropped over 21% Friday, settling at $10.23 a share.

The drop is the worst for the company since it went public on November 19, 2015, according to CNBC.

Friday’s slide comes the day after the company reported disappointing quarterly earnings. Square announced a net loss of $96.7 million for the quarter, and a loss of $0.14 a share against expectations of $0.09 loss.

The Jack Dorsey-led company beat on revenue of $379.2 million against expectations of $343.6 million.

The quarterly results sent the stock tumbling in after-hours trading Thursday, and the losses have continued Friday.

Screen Shot 2016 05 06 at 4.59.26 PMGoogle Finance

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