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Block stock hits new 52-week low, getting clobbered since rebrand
Jan 14, 2022 | Yahoo Finance
Picture - Block stock hits new 52-week low, getting clobbered since rebrand

Block stock (SQ) hit a fresh 52-week low on Wednesday, trading as low as $131 per share. The digital payment company's stock has been on a decline as part of a rotation out of growth and risk assets amid concerns of Fed rate hikes.

The company formerly known as Square is down about 31% since announcing its corporate entity name change to Block, on Dec. 1 of last year.

On Thursday, Block founder and CEO Jack Dorsey announced the company is "officially building an open bitcoin mining system."

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