Friday, March 24, 2023
Mighty Mouse
Hindenburg Research is a small company that makes a living short-selling larger publicly traded firms. It has been successful in causing stock prices of its targets to crash after its reports accusing company executives of malfeasance. Its latest victim is online payment company, Block. CEOs are thrust into the spotlight in the worse possible way and need to address Hindenburg's claims immediately. It is a matter of reputation and public trust. Hindenburg's stock has dropped 15% already at this hour. Block says it will work with the SEC to expose Hindenburg's fraudulent claims but meanwhile vultures are circling. The company needs a healthy transparency to get its reputation back. It might not get the time to achieve that.
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