Yes, except the most common variant is unguided and it's a huge waste of a nuke if you miss. It's also liquid fueled, so it's highly unstable.
There's supposed to be one that slows down and starts searching in a circle if it misses, but I heard that it had an unfortunate tendency to find the launching ship or vessel instead - it's not got external guidance. A wire-guided torpedo from a previously undetected sub is a much better way. And they can't keep a Squall fueled indefinitely, either. It has a lot of problems, and it's only useful as a "I'm going to take you with me" weapon.