Block (SQ) shares are under pressure after falling 15% on Thursday, as investors continue to digest Hindenburg's latest short-seller report that targeted the company. The report accused Block of misleading investors by overstating user numbers and says it's been ignoring fraudulent payments. While the report offers details of alleged wrongdoings by Block, some Wall Street analysts are not buying into it. "There were a lot of undertones in that Hindenburg report which I didn't like, and I thought were inappropriate as well," Dan Dolev, Mizuho Senior Financial Technology Analyst, told Yahoo Finance. Dolev points out that there are likely similar things going on in payments apps Zelle and Venmo (PYPL). "To a certain extent, these things happen everywhere." The stats that Hindenburg used to back up its accusations actually show the company has a "good hit rate" Dolev says. "I don't think this is actually a valid argument. ...The numbers speak for themselves." You can watch Yahoo Finance's Brad Smith and Jared Blikre's entire interview with Dolev here. Key Video Moments 00:00:01: Hindenburg 'singled out' the Cash app 00:00:33: 'Inappropriate' findings in the report 00:00:52: Block's 'hit rate' around fraudulent activity 00:01:25: Block's gross profit
The alliance adds VersaClimber to Affirm's (AFRM) network of more than 240,000 retail partners.
SAN FRANCISCO, March 23, 2023--Affirm (NASDAQ: AFRM), the payment network that empowers consumers and helps merchants drive growth, today announced a partnership with VersaClimber, the original total body, vertical cardio climber. Now, eligible shoppers can buy their favorite VersaClimber exercise machines and fitness equipment while paying over time.