After rattling the Adani group two months ago, US-based short-seller Hindenburg research has now targeted Twitter co-founder Jack Dorsey's company Block.
Block is an American multinational technology firm founded in 2009 by Jack Dorsey and Jim McKelvey. It launched its first platform in 2010 and has been traded as a public company on the New York Stock Exchange (NYSE) since November 2015 with the ticker symbol SQ.
In a tweet shared today evening,?Hindenburg research titled the report:?Block¡ªHow Inflated User Metrics and "Frictionless" Fraud Facilitation Enabled Insiders To Cash Out Over $1 Billion.
Hindenburg tweeted "Block, formerly known as Square, is a ~$44 billion market cap company that claims to have developed a ¡°frictionless¡± and ¡°magical¡± financial technology with a mission to empower the ¡°unbanked¡± and the ¡°underbanked¡±."
Before the US stock market opens later today, Block shares are currently trading?at $72.65. Keeping in mind how hard Adani shares were hit after the Hindenburg report, it remains to be seen how Block shares react to this fresh report by Hindenburg.
Also Read:?Former Twitter CEO?Jack Dorsey?Says Bitcoin Will Replace The US
In barely half an hour of the tweet, 343,000 views, over 1,500 likes and over 600 retweets have already occurred.
Here's how people reacted to the tweet by Hindenburg research targeting Jack Dorsey's firm.
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