Square is sinking like a stone.
As of 10:37 a.m. ET, the payment tech firm’s stock is down nearly 20% at $10.54 per share. The drop is the worst for the company since it went public November 19, 2015, according to CNBC.
Friday’s slide comes the day after the company reported disappointing quarterly earnings. Square announced a net loss of $96.7 million for the quarter, and a loss of $0.14 per share against expectations of $0.09 loss.
The Jack Dorsey-led company beat on revenue of $379.2 million against expectations of $343.6 million.
The quarterly results sent the stock tumbling in after-hours trading Thursday, and the losses have continued Friday.
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