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Block (NYSE: SQ) 30-day option implied volatility is at 77; compared to its 52-week range of 52 to 109 after release of Hindenburg Research short report. Call put ratio 1 call to 1.4 puts as shares sell off 20%.
... MoreBlock (NYSE: SQ) shares tumbled Thursday after Hindenburg Research released a short report claiming the company, co-founded by Twitter creator Jack Dorsey, misled investors with "inflated metrics."
The short-selling firm states that its two-year investigation has concluded that Block has "systematically taken advantage of... More
Stocks expected to have increasing option volume: SQ COIN GIS DRI F CHWY SCS
... MoreBaird analyst David Koning reiterated an Outperform rating and $92.00 price target on Block Inc. (NYSE: SQ).
The analyst comments "A short report is significantly weighing on the stock today in pre-market trading. The report implies that SQ's CashApp is reasonably easy (or relatively... More
Block (NYSE: SQ) 30-day option implied volatility is at 67; compared to its 52-week range of 52 to 109 into Hindenburg Research short report.
... MorePayPal (NASDAQ: PYPL) Declines in Sympathy with Block (NYSE: SQ) After Short Seller Causes Block Shares to Plunge
SQ -18.6%PYPL -2%... MoreBy Manya Saini
(Reuters) - Hindenburg Research on Thursday disclosed short positions in Block Inc and alleged that the payments firm led by Twitter co-founder Jack Dorsey overstated its user numbers and understated its customer acquisition costs.
Block vowed to fight back, saying it would explore legal action against the short seller for its "factually inaccurate and misleading report" that was "designed to deceive and confuse investors".
"Hindenburg is known for these types of attacks, which are designed solely to allow short sellers to profit from a declined stock price," the payments firm said, adding... More
(Updated - March 23, 2023 8:34 AM EDT)
Block (NYSE: SQ) was mentioned cautiously by short seller Hindenburg Research.
The report is titled , "Block: How Inflated User Metrics and Frictionless Fraud Facilitation Enabled Insiders To Cash Out Over $1 Billion"Shares are down 13%... More
