Truth behind Hindenburg Research! | Jagran Business- watch video

Hindenburg Research's most recent target is former Twitter CEO Jack Dorsey's digital payments business Block following a public report on billionaire Gautam Adani's empire in January that caused a stock collapse in all 10 Adani-related companies. According to the current investigation, fraudsters taking advantage of government stimulus programmes during the epidemic were most likely aided by Block's Cash App. After Hindenburg Research stated that it is betting on a loss in the stock, Block Inc. shares fell 20% to $58.31 at 9:46 am in New York, the company's largest intraday decline in three years. 

Block's largest stakeholder, with a stake of about 8%, is Dorsey, who co-founded the company with the intention of shaking up the credit card business in 2009 in his San Francisco home.

Prior to two years ago, the NYU dropout divided his time between the payments company and Twitter, his other business that would go private in 2022 after being acquired by Elon Musk for $44 billion with Dorsey's approval.