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Why did paypal stock have to drop because of this...
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This is bad for Block. I hope. It's incredible that since 2008 it actually seemed immensely easier to skirt regulations and laws (under the banner of 'innovation'), and not just in finance. Just about all of silicon valley seems to have run the longest and broadest grift we've seen. This year's gonna get real interesting.
What do you mean by this
> “Every Criminal Has A Square Cash App Account” – Former Employee
> The Signs Are Hard To Miss: There Is Even A Gang Named After Cash App, With Members Arrested For Fentanyl Distribution
> Our research shows that Block has embraced a traditionally very underbanked segment of the population: criminals.
> Many of These Songs Describe The Role of Cash App in Facilitating Criminal Activity, Including Murder-For-Hire
> Cash App Was Cited As “By Far” The Top App Used in Reported U.S. Sex Trafficking, According to A Leading Non-Profit Organization
> Department of Justice Complaints Outline How Cash App Has Been Used To Pay For Sex Trafficking, Including Sex Trafficking Of Minors
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It is already down to 58 from yesterday close at 72 how much will the short sellers make if it opens at 58$ in half hour?
So if they open at 6.54$ and 1.25$ respectively the short seller (hindenberg) potential gains from sq block short via short term puts are
6.54-2.54 = 4x100 = 400$ per contract 1.25-.25 = 1*100 =100$ per contract
If they had bought 1000 contracts of each that is 400k and 100k respectively for the 72$ and 60$ sq put!!