Hindenburg made serious allegations against Block Inc.
In its new report, Hindenburg Research has made serious allegations against Block Inc. Hindenburg has told in the report that Block has cheated about the payment. wrongfully generated revenue. At the same time, the users have been shown in an exaggerated manner. Here, after Hindenburg’s report came, the shares of Block Inc. fell by 20 percent. The company has lost billions due to the drop in shares. Talking about the market cap, the company’s market cap is $ 44 billion. Hindenburg alleges that the company Square has committed fraud with the help of financial technology. The company has been accused of empowering the unbanked and underbanked.
Hindenburg created panic by tweeting
Hindenburg Research, an American research firm, had created panic yesterday i.e. on March 23, 2023 by tweeting. Hindenburg Research had talked about presenting another report by tweeting. A tweet by Hindenburg (Hindenburg Research Tweet) had increased the heartbeat of the veteran businessmen. In fact, whenever the American research firm (Hindenburg Research) has come out with a report against any company, it has suffered huge losses. The same is happening this time too. Jack Dorsey’s company Block Inc. is facing losses. Gautam Adani suffered huge losses when the American research firm came out with a report against the Adani Group.
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