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The Ratings Game: Square investment spending sparks debate on Wall Street

The debate over Square Inc. rages on following the company’s latest quarterly earnings report.

Square SQ, +1.13% shares fell after the company delivered its first-quarter numbers on Wednesday, though the payment processor raised its revenue and earnings forecasts for the full year. Afterwards, analysts weighed in on what caused the stock to drop and whether those factors were indeed reason for concern.

BTIG analyst Mark Palmer, a rare Square bear, saw a few reasons for Thursday’s selloff. The first, a Bloomberg report that Amazon.com Inc. AMZN, +0.15% was giving businesses discounts to accept Amazon Pay, had nothing to do with earnings.

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