Square Surges After Crypto Confusion Hits Trading Desks
- Stock hit record after little-known site posts Bitcoin story
- Article didn’t appear to contain any new information
The Square Inc. Point of Sale app.
Photographer: Andrew Harrer/BloombergThis article is for subscribers only.
Shares of Square Inc. rallied Monday on what appeared to be old news making the rounds on the internet and on trading floors.
The stock’s surge may have been prompted by an article from a little-known news site based in Latvia that said Square is “possibly testing an integration with Bitcoin,” according to three traders who declined to be identified. The story, written by contributor Oladapo Olagoke on a website called Cryptona, didn’t seem to contain any new information. Olagoke didn’t respond to a message seeking comment.