The fintech took a nosedive after a major short report accused it of fraud -- is this an opportunity?
Notable short-selling firm Hindenburg Research recently released a lengthy report about fintech disruptor Block (SQ 0.10%), accusing the company of fraudulent practices and more. The stock plunged by as much as 20% the day after the report, so is this a buying opportunity or a reason to stay away?
*Stock prices used were the afternoon prices of March 23, 2023. The video was published on March 24, 2023.
Matthew Frankel, CFP® has positions in Block and has the following options: short January 2024 $200 calls on Block. Tyler Crowe has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Block. The Motley Fool has a disclosure policy.
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