Shares of Square (SQ) - Get Report were falling Friday following a report that said the company was testing a new, free stock trading service on its platform, according to a product video reviewed by Bloomberg.
While there is no official launch date for the new Cash App feature, employees reportedly have been testing the service for "a few weeks."
Square's Cash App allows users to send money to friends and recently expanded into debit cards and bitcoin trading. The company said it had more than 15 million active users as of December 2018.
Square fell 1.78% to $56.76 Friday.