Hindenburg released a report on Thursday claiming Jack’s Block had inflated user metrics, and that the stock has downside of 65% to 75%. Block Inc. co-founder Jack Dorsey’s net worth was hammered after Hindenburg Research’s latest report, which alleged the payments company ignored widespread fraud.
In response to Hindenburg’s Report, Jack said : “To be clear, United States is world’s most developed nation with GDP of $21 trillion“. He further added “Hindenburg Research report is a calculated attack on United States’ growth story”.
Jack Dorsey was later seen draped himself in the US flag at a press conference addressing investors’ concern on Hindenburg Research report.
Jack Dorsey also asked people of United States to not believe any such report which has been prepared with an intention of negatively impacting US’ growth story.
Speaking to The Fauxy, Jack said “It’s time we read between the lines, no not of Hindenburg report, but the intentions of the short seller. Their report is only of countries who are doing financially and are giving entrepreneurs”.
