Investment and research company Hindenburg Research reported that they took a short position in the report of Jack Dorsey’s scandalous claims about the payment company Block (SQ).
Hindenburg Research, an investment firm focused on short selling March 23 In the report he published on his official website, Twitter Founder and Bitcoin (BTC) supporter Jack Dorsey About Block, the payment company founded by scandalous allegations found and short stated that he took the position.
Hindenburg Research, in total over two years within the scope of data obtained as a result of an investigation, Block shares 65% with 75% stated that he predicted a decrease in the This foresight of the company and a short position acquisition of Block shares more than 25% caused a decline.
Criminals’ Favorite
Citing a report from another nonprofit, Polaris, in 2021, Hindenburg Research reports that Block’s cryptocurrency-powered payments app Cash App US criminal activities said that it is one of the most frequently used mobile applications in its financial arms. to the US Department of Justice (DOJ) He stated that many complaints pointed out that Cash App facilitates the financial aspect of criminal activities.
On the other hand, the report, which also refers to the complaints made to the ministry, notorious local crime syndicate Many organized s, including Sinaloathat you are used by the edge organization underlined.
Data Fake
Hindenburg Research also provides data from the company. that you manipulate about former company employees a team based on the statement claims suggested. Users of the application more than one Noting that it has an account, the company said that Block unique accounts in its place active account by highlighting its metrics because more widespread claimed to have shown it.
Accounts reviewed by former employees in the report 40% with 75% fake that and fraud And laundering proceeds of crime used in activities related to dependent on one person statements about the accounts were given.
Corresponding from Block
On the other hand, in a press release published on March 23, Block said, US Securities and Exchange Commission (SEC) on Cash App by working with misleading information pertaining to the Hindenburg legal action announced that they will start
of Block Hindenburg short positions one known for company Pointing out that the confuse He stated that they believe it was created especially for
According to Nasdaq data SQ, at the opening after the publication of the report depreciated by 18% started the session. Depreciation of the stock in the coming hours 56.60 with dollar level to 25% as far as it progressed. SQ, session $61.88 level closed.