SQ2.ASX
Block dives amid Hindenburg fraud claims, KMD Brands back in profit and Wyloo bids for Mincor
Shares in Afterpay-owner Block (ASX: SQ2) dived more than 26% on the ASX across the latter half of the week after short-seller Hindenburg Research published a scathing report accusing it of fraud on Thursday. Hindenburg claimed its report was based on a two-year investigation into Block, which found it had willingly “facilitated fraud” against consumers […]
How ASX BNPL stocks fell from grace
If there is one market sector that encapsulates the rapid change in share market sentiment this year, it is the buy now pay later (BNPL) sector. It was one of the few “technology’’ areas that Australia dominated in the long bull market but the sector is now littered with broken deals and extreme share price […]
Afterpay suffers damning $345m loss blow-out under new owner Block
Former ASX-listed Australian fintech Afterpay raised concerns this week after its December half-year (1H FY2022) results were unveiled – showing an after-tax loss of $345.5 million. The 1H FY2022 loss was the first financial result to be released since US-based Block (ASX: SQ2) completed its acquisition of the buy now pay later (BNPL) fintech Afterpay […]
