Benzinga | Jul 16, 2020 09:13AM EDT

Why Square's Stock Is Trading Lower Today

Square, Inc. (NYSE:SQ) shares are trading lower, potentially following the hack of several high-profile Twitter users, as the companies share a CEO in Jack Dorsey. The recent hack may lead to concerns of security on Square's platform.

Strange tweets sent from Tesla CEO Elon Musk's Twitter account and those of Apple, Uber and Microsoft co-founder Bill Gates appear to be the result of a hack promoting a bitcoin scam.

Square provides payment acquiring services to merchants, along with related services. The company also launched Cash App, a person-to-person payment network.

Square's stock was trading down 3.4% at $118.05 per share on Thursday at the time of publication. The company has a 52-week high of $133.81 and a 52-week low of $32.33.