Posted on 03/23/2023 6:11:54 AM PDT by zeestephen
Shares of Jack Dorsey's Block Inc. [stock symbol SQ] plunged over 18% after short-seller Hindenburg Research announced the payment company was its latest short position. "Our 2-year investigation has concluded that Block has systematically taken advantage of the demographics it claims to be helping..." ...the short seller opened accounts in the name of former President Donald Trump and Tesla CEO Elon Musk, and then opened a Cash App card, called the Cash Card, under the "obviously fake Donald Trump account," the report said.
(Excerpt) Read more at cnbc.com ...
So, Block got chopped?.......................
Hindenburg? That could easily go up in flames.
If they specialize in short selling that is actually a pretty good name.
Why would anyone believe a report that hits a corporation where they have shorted the stock?
Not saying the report might not be true, but the correspondence of interest might give a investor pause.
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