San Francisco-based mobile payment company, Square Inc.’s (NYSE:$SQ) shares have gone up quite unexpectedly by 14% just within a single month. Wall Street investors and traders are speculating as to why — a popular speculation is that Amazon (NASDAQ:$AMZN) is looking to buy Square.
On a whole, Jim Cramer, founder of TheStreet and manager of the Action Alerts PLUS portfolio, theorizes that there are two main reasons for Square’s sudden rise in the market. The first reason is the popular theory that Amazon is looking to purchase Square, and the second being that founder and current CEO Jack Dorsey is going to step down and hand the company to CFO Sarah Friar — a person who is more than qualified for the job.
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