The Block Inc (ASX: SQ2) share price is suffering on Monday despite the company’s New York-listed stock’s gains.
At the time of writing, the Block share price is down 6.75% on the ASX, trading at $133.27.
For context, the S&P/ASX 200 Index (ASX: XJO) is also falling today. It is currently down 1.53%.
So what’s got the company’s Australian counterpart feeling so blue (or red) today? Let’s take a look.
What’s going on with the Block share price?
Block’s shares are suffering alongside its ASX 200 technology peers on Monday.
Right now, the S&P/ASX 200 Information Technology Index (ASX: XIJ) is recording a 3.3% slump, and Block’s stock isn’t its biggest weight.
The Novonix Ltd (ASX: NVX) share price takes home that unfortunate prize. It’s currently down 8.2%.
At least Block’s stock is well versed in falling. It slumped 1.8% on Friday amid the release of the company’s quarterly earnings.
Today’s tumble included, the Block share price has fallen 19% over the last 30 days on the ASX.
It’s also 24% lower than it was when it joined the Australian exchange following its takeover of former market darling, Afterpay earlier this year.