Why Block Shares Are Losing Value Today
SQBLOCK(SQ) The Motley Fool·2024-05-02 04:10

Federal prosecutors are reportedly asking hard questions about compliance. U.S. prosecutors are reportedly probing financial transactions at Block (SQ -8.51%), asking tough questions about potential compliance lapses at the company's Square and Cash App divisions. The reports caught investors off guard, sending Block shares down about 10% as of 1:45 p.m. ET. The Feds are looking into Block's most important apps Block products, including Square and Cash App, have been central to the fintech revolution, offer ...