
Block Inc (NYSE:SQ) was sliding more than 6% lower on Friday after breaking through an important psychological support zone at the $100 level.
The financial services and digital payments company has been severely beaten down since reaching an all-time high of $289.23 on Aug. 5, 2020, plummeting more than 65%. The stock is affected by both the general markets and the cryptocurrency sector due to its business model, which includes CashApp, a mobile payment service and stock and Bitcoin (CRYPTO: BTC) trading platform.