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Are the Short-Sellers Right About Block?

TheMotleyFool

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Are the Short-Sellers Right About Block?: https://g.foolcdn.com/editorial/images/725799/fingers-on-chin-looking-up-thinking-considering-wondering.jpg

Huge news came out in financial technology land this week when famous fraud investigators and short-sellers Hindenburg Research released a report on Block (NYSE: SQ). The research group is alleging that Block is willingly facilitating fraud through its popular Cash App service, inflating user metrics, and seeing deteriorating lending results through its buy-now-pay-later (BNPL) subsidiary Afterpay. Hindenburg also believes the stock is generally overvalued.

Block immediately responded to the report alleging it is "inaccurate and misleading" and that it is exploring legal action against the firm.

Are these short-sellers right about Block? Or is Block right that it is a bunch of nonsense?

Source Fool.com

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