10 Stocks Record Biggest Double-Digit Drop on Friday

5. Block Inc. (NYSE:XYZ)

Block Inc. fell for a third straight day on Friday, losing 17.69 percent to end at $68.35 apiece as investor sentiment was dampened by economic uncertainties that could potentially impact the company’s growth.

Investors’ focus was on the company’s “buy now, pay later” (BNPL) lending program’s ability to drive profits, especially as consumer spending growth remained at a slow pace over the past few weeks amid uncertainties brought about by President Donald Trump’s trade policies that could jack up consumer prices.

XYZ’s Cash App business, which enables peer-to-peer mobile payments, saw gross profit grow by only 16 percent during the holiday quarter, slower than the 25 percent a year earlier.

According to an analyst from Morningstar, the long-term economics of XYZ’s Cash App remains the biggest point of uncertainty and its growth trajectory remains in question.