Activist Hindenburg research has taken a short position in shares of Block Inc. causing a massive reduction in share price.
Hindenburg Research disclosed betting-against positions in Block Inc.
Block is a global tech company focused on financial services.
After finding potential wrongdoing, Hindenburg usually publishes a report explaining the case and bets against the target company, hoping to make a profit.
Block is made up of Square, Cash App, Spiral, TIDAL, and TBD.
