Even that still isn't true.

If you look at it from ER to ER, it never closed lower than it's ER close for Q1 2018 ER(5/2/2018 to 7/31/2018). It never closed lower than it's ER close for Q2 2018 ER (8/1/2018 - 11/6/2018). It certainly tanked after Q3 2018 ER, and kind of just steadily decreased for Q4 2018 ER. I've seen this "it tanks after every ER" narrative in a number of SQ threads and it's just untrue parroting. It tanked in 1 of it's last 4 ER's, and only even decreased in 2 of it's last 4.

Full disclosure, though, while I am bullish on SQ I have not invested in it at all.