Payment company Block, formerly known as Square, saw a 13% drop in its stock price on Thursday following allegations from a short-selling firm regarding its user numbers and aggressive tactics.
– Company name: Block (formerly known as Square)
– Stock price dropped by 13% in Thursday morning trading
– Short-selling firm questioned the company’s user numbers
– Accusations of adopting predatory strategies
– Block’s stock price suffered a significant drop in Thursday’s morning trading, falling 13%.
– The decrease may be attributed to questions raised by a short-selling firm regarding the company’s user numbers.
– The firm has also accused Block of implementing predatory strategies.
– These allegations may have had a negative impact on investor confidence and may result in further scrutiny of the company’s practices.