{"id":76086,"date":"2023-03-23T18:04:37","date_gmt":"2023-03-23T16:04:37","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=76086"},"modified":"2025-09-10T15:20:49","modified_gmt":"2025-09-10T12:20:49","slug":"short-selling-calls-on-block-shares-by-jack-dorsey-backers-push-stock-down-about-22","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/short-selling-calls-on-block-shares-by-jack-dorsey-backers-push-stock-down-about-22\/","title":{"rendered":"Short-selling calls on Block shares by Jack Dorsey backers push stock down about 22%"},"content":{"rendered":"

Hindenburg Research \u043e\u0442\u043a\u0440\u044b\u0442\u044c \u0448\u043e\u0440\u0442<\/a> on Block shares led to a 22.3% drop in their price. Analysts attributed the move to a ‘wild mismatch’ in operating metrics.<\/p>\n

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\u0414\u0430\u043d\u043d\u044b\u0435: Finviz<\/a>.<\/figcaption><\/figure>\n

Experts cited an overstatement of Cash App users while costs of acquiring them were understated. In particular, the first metric was inflated by 40-75%, formed from fake accounts linked to fraud or tied to the same individual.<\/p>\n

In their report, Hindenburg said the company allowed attackers to easily create multiple accounts and quickly monetise stolen funds.<\/p>\n

Even if users were suspected of fraud or other illicit activity, Block would blacklist accounts without proper blocking. The phenomenon was so widespread that ‘rappers bragged about it in songs,’ the experts noted.<\/p>\n

The analysis is based on dozens of interviews with former employees, partners and industry experts, a broad review of regulatory documents and court proceedings.<\/p>\n