Hindenburg Research Shorts Jack Dorsey’s Payments Firm ‘Block’, Share Prices Decline Over 22%

Hindenburg Research, a short-selling firm, has released a report accusing Twitter co-founder Jack Dorsey's payments company, Block Inc. of misleading investors about the growth of its core business. The report alleges that the firm's core business, is shrinking and the company has been relying on the growth of its cryptocurrency trading platform, Cash App, to make up for the shortfall. Hindenburg also alleged that Cash App's growth has been driven by Bitcoin trading, which is not a sustainable business model. In response, Block Inc has refuted the allegations, calling them "misleading and false." Block Inc. share prices nosedived over 22% in New York. Hindenburg Research Hits Back at Adani Group After Its 413-Page Response, Says 'Fraud Cannot Be Obfuscated by Nationalism'.

Hindenburg Research Shorts Jack Dorsey’s Payments Firm ‘Block’

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