After a haircut in its IPO earlier this week, to $9.00 per share, Square’s first day of trading yesterday soared more than 60%, closing at $13.07. It was expected to price in the $11 to $13 range but there has been growing skepticism among institutional investors in regard to tech unicorns.
Square began trading on the New York Stock Exchange (NYSE) under the ticker symbol “SQ.” Barclays is the Designated Market Maker for the company’s stock.
Square celebrated its public debut by hosting a Square Market beneath the NYSE facade, featuring some of the best local vendors, which are also Square sellers. Visitors to the Square Market browsed custom goods, got their beards trimmed, and enjoyed breakfast, lunch and desserts from food trucks and restaurants.
The Square Market event kicked off with The Opening Bell® from outside the NYSE. Marcia Dorsey, mother of Square CEO Jack Dorsey, made a flower purchase from Square’s first seller, Cheri Mims. The sound of the completed transaction, coupled with the NYSE Bell, signified the start of the trading day.
Square creates tools that helps sellers of all sizes start, run, and grow their businesses. Square’s point-of-sale service offers tools for every part of running a business, from accepting credit cards and tracking inventory, to real-time analytics and invoicing. Square also offers sellers financial and marketing services, including small business financing and customer engagement tools. Business and individuals use Square Cash, an easy way to send and receive money, as well as Caviar, a food delivery service for popular restaurants. Square was founded in 2009 and is headquartered in San Francisco, with offices in the United States, Canada, Japan, and Australia.
For data, background and forecasts on Square: Search CardWeb.com’s CardFlash® Library of more than 58,000 archived articles; Access CardWeb.com’s CardData® for current and historical Performance, Portfolios, Profiles, etc. Visit RAM Research® (ramresearch.com) for quarterly and annual forecasts covering more than 150 metrics. [complimentary or deeply discounted access to CardWeb.com subscribers].
Additional database resources include CardWeb.com’s CardExecs® – comings & goings of payments movers & shakers; CardWeb.com’s CardWatch® – ears & eyes on marketing globally (57K items); and CardWeb.com’s CardPixes® – form & function of card design (7K items).