Motley Fool

Why Square Stock Shot 5.5% Higher Today

Ever-ambitious financial services company Square (NYSE: SQ) was a stock market champ on Tuesday, with its shares closing almost 6% higher on the fulfillment of one of its big aims: The company now offers banking services. This pair joins an existing one, Square Loans; no prizes for guessing what this service features. “By offering essential banking tools that work seamlessly with Square’s ecosystem of solutions like payments and Square Payroll, sellers now have a single home for their entire business, gaining a unified view of their payments, account balances, expenditures, and financing options,” the company wrote in an email trumpeting its new role as a traditional bank.

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