Square Inc. is having a bit of a struggle with its shares, currently at $9, which is 25% less than was initially expected. The fight for investors is on, and with much skepticism regarding the service, which is headed by Twitter creator Jack Dorsey.
Fight for Investors Starts on Thursday
Square Inc, a mobile payment platform, is offering 27 million shares and raised $243 in Wall Street, much under the expected $323. Earlier in November, Square Inc lowered their price range to $13 from the $15.46 investors paid at the last private financing round the company conducted in 2014.
Now at $9, Square Inc seems like it’s spiraling. The company, initially valued at $6 billion, is stooping down to $2.9 million. This is also raising questions on Jack Dorsey’s intentions with Square Inc, and how he plans to split his time between Twitter and Square.
Square Inc Was Initially Founded in 2009
Square Inc was started as a platform for small businesses to accept credit card payments through mobile devises, and it has now evolved as a by-way for companies like Apple and Visa. In addition the drops in price per share, it has reported $131.5 million in losses, a significant rise from the $117 million reported in losses last year.
What’s the Next Step for Square?
Starting November 19, there’ll be much to say for the future of Square Inc as the company goes into its fight for investors. As the end of November sets in, the company could see a rise to being once again the company investors expect it to be, or it can become obsolete,
Better Not to Be Square
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