2023-03-29 05:45:00 ET
One of investors' biggest fears is putting their hard-earned money into a corporation, only to discover that said company was, in fact, a giant scam. And if we are to believe a recent short-seller report, that is more or less the situation Block 's (NYSE: SQ) shareholders find themselves in.
The report , published by the investment firm Hindenburg Research, made a series of damning allegations about Block's peer-to-peer (P2P) payment app, Cash App, which is an integral part of the fintech's business.
Block's shares dropped about 20% after the report's release. So obviously, many investors were spooked. Could this represent a good opportunity to scoop up Block's shares on the dip?
For further details see:
Block Short-Seller Report: Buy the Dip?