Block share price

2023 - 3 - 23

Block - Hindenburg Research

Post cover — Image courtesy of "Reuters"

Hindenburg takes aim at Dorsey's payments firm Block; shares plunge (Reuters)

Hindenburg Research on Thursday disclosed short positions in Block Inc and alleged that the payments firm led by Twitter co-founder Jack Dorsey overstated ...

Hindenburg invests its own capital and takes short positions against companies. ET, short sellers have made over $400 million in paper profit, according to data from financial analytics firm Ortex. So, you know, I think that's the most damaging part of the report," he added. And it doesn't seem like that would be something that they would allow," said Christopher Brendler, senior analyst at D.A. "What I am really concerned about is the Cash App, accusations of fraud, multiple accounts, opening accounts and fake names. Based on the session's 20% price move, as of 9:55 a.m.

Jack Dorsey's Block Vows to Fight Back After Hindenburg Says It's ... (Bloomberg)

Block Inc. said it will explore legal action against Hindenburg Research after the short seller issued a report alleging the payments company facilitated ...

Block share price crashes 15% after scathing short seller attack (Motley Fool Australia)

The Block Inc (ASX:SQ2) share price is crashing deep into the red on Friday after the payments company was hit with a short seller attack...

It commented: Our 2-year investigation has concluded that Block has systematically taken advantage of the demographics it claims to be helping. Core to the issue is that Block has embraced one traditionally very “underbanked” segment of the population: criminals. We ordered a Cash Card under our obviously fake Donald Trump account, checking to see if Cash App’s compliance would take issue—the card promptly arrived in the mail. It summarises: Former employees estimated that 40%-75% of accounts they reviewed were fake, involved in fraud, or were additional accounts tied to a single individual.

Hindenburg's effect! Block's stock free falls by 22%. US short seller ... (Livemint)

Hindenburg's report claimed that Block has allowed fraudulent accounts to proliferate on cash applications, generating illegitimate revenue and exaggerating ...

Block Share Price Tumbled: Hindenburg blames firm of $1 billion ... (INDmoney)

Block share price tumbled after short seller Hindenburg released a report on Block claiming a $1 billion fraud! Hindenburg report on Block claimed the cash ...

- The report claimed that Block took advantage of its clients. Adani dismissed the allegations as unfounded and an intentional attack on India. Past performance is not indicative of future returns. Although the company claims to use its own capital for forensic research, it operates like a typical activist short-seller. Block share prices recorded their worst session since May 2022 following the report. However, if the stock price rises, short sellers may end up losing money instead.

Short Seller Accuses Jack Dorsey's Block of Facilitating Fraud (The New York Times)

Shares of the financial tech company plunged after Hindenburg Research said Block had failed to stamp out illegal activity on its platforms, including drug ...

Hindenburg’s allegations of fraud at the [electric-truck maker Nikola](https://www.nytimes.com/2022/10/14/business/trevor-milton-nikola-fraud.html) eventually led to the ouster — and criminal prosecution — of Trevor Milton, the company’s chief executive. Of more concern is what the short seller said was prolific criminal activity on Cash App, including payments for illegal drug sales and sex trafficking. Dorsey to sell millions of dollars’ worth of stock. The investment firm also cited statistics from state governments including Massachusetts and Ohio suggesting that Cash App was used for fraudulent pandemic relief applications at a higher rate than other banking services. “We have reviewed the full report in the context of our own data and believe it’s designed to deceive and confuse investors.” Block responded to the accusations by saying it intended to “explore legal action against Hindenburg Research.”