Square is down 10% and close to dropping below its IPO price

Shares of Square slid 10% on Tuesday, and the stock is now close to falling below its $9 IPO price.

It’s not immediately clear what’s pressuring the shares of the digital payments company, whose CEO Jack Dorsey is also the full-time CEO of social network Twitter.

Square went public in November. The company priced its IPO lower than its private market valuation, but shares of the company popped on its first day of trading, to close at $13.07. The stock has risen to as much as $14.78 since then but has been on a decline since the start of 2016.

Square is set to report its fourth quarter financial results in March.

NOW WATCH: An Italian yacht company has built a shape-shifting speedboat that looks like something out of ‘Transformers’

NOW WATCH: Tech Insider videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.