Block, Inc. (formerly Square) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Block, Inc. (formerly Square)

SQ 65.71

-2.0%

3:59 PM EDT

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

From: Sr K	3/23/2023 12:32:43 PM
	1 Recommendation Recommended By Glenn Petersen of 66

Shares of Jack Dorsey’s Block Fall on Short-Seller Report Hindenburg Research released a report based on a two-year investigation, accusing Block of inflating user numbers Hindenburg said Jack Dorsey, Block Inc.’s chief and co-founder, has amassed a $5 billion personal fortune by taking advantage of Cash App’s users. PHOTO: MARCO BELLO/AGENCE FRANCE-PRESSE/GETTY IMAGES By Peter Rudegeair Updated March 23, 2023 12:14 pm ET SHARE Listen to article (2 minutes) Shares of the payments company formerly known as Square fell 13% in early trading Thursday after a short seller questioned the company’s user numbers and accused it of predatory tactics. Hindenburg Research said a two-year investigation into Block Inc.found the company “obfuscates” its Cash App service’s true user numbers by reporting misleading metrics “filled with fake and duplicate accounts.” It also accused the company of taking advantage of the demographics it claims to serve—lower-income people and minorities—with “predatory loans and fees.” Exc.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next