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Why Square Stock Has Plunged Nearly 20% in the Last Two Days

Scarlett Ness
Updated
Why Square Stock Has Plunged Nearly 20% in the Last Two Days

The loss in value was due to the resignation announcement of the company’s chief financial officer (or CFO), Sarah Friar. On Wednesday, Friar declared that she will step down from the payments company and will join the San-Francisco-based social networking firm Nextdoor in December this year as CEO. In fact, according to a Bloomberg report, the departure of Friar could continue to pressure the stock in the coming months, as she was the face of the company and had served the company for six years.

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