Block, Inc. (SQ) is engaged in creating tools that enable sellers to accept card payments and provide reporting and analytics, and next-day settlement services. The company operates through two broad segments, Square and Cash App.
In March, short-selling firm Hindenburg Research revealed short positions in SQ. The firm alleged that SQ had overstated its user numbers and understated its customer acquisition costs. Hindenburg is known for the $100 billion market rout its report created in India’s Adani Group.
