Square traded close to all-time lows as the 180-day lockup period expired on May 16.
While shareholders such as VC firms can now unload shares, the incentives don't exist for most shares and options with the stock around $9.
The recommendation remains to use this irrational dip in the stock price to buy Square.
Despite a known problem when the company went public, Square (NYSE:SQ) was hit rather substantially by the lockup expiration that expired on May 16. If it wasn't for the shares coming onto the market that swamps the existing float, one has to wonder if the stock would have even traded down after Q1 results.