Afterpay's new owner, Block, has been accused of facilitating fraud

The Dive | Business News

Afterpay - is the definition of a recent Aussie success story. The buy-now-pay-later service that catapulted to the front of the pack when that wave of services came through a couple of years ago.

And if you’re on financial media - like we are - you’re always encountering the headline - which stock is the next Afterpay? Reminding us of what a golden run it had during the pandemic. The company was acquired for $29 billion USD in 2021 by Block, formerly known as Square, one of the hottest fintech companies listed in the States.

But now Afterpay’s parent company has found itself in some hot water. Last week it was targeted by one of the most feared activist short sellers in the world, Hindenburg Research. And as a result, the share price took a dive. Sascha and Darcy talk about how companies respond to short-selling reports.

Listen to our other episode on Hindenburg here.

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