Hindenburg Research
The shop of American short selling firm Hindenburg Research, which had made several serious allegations against Adani Group in January 2023, has now been closed. Company founder Nathan Anderson himself has said that he has decided to close the company. Anderson made this announcement on social media platform X. He wrote, ‘Our plan was to close the company after completing the ideas we were working on and that day has come today.’ This firm used to do ground breaking financial investigations. It was established in the year 2017. “We shook up some empires that we thought needed shaking,” Anderson wrote in his post.
Nothing came to light in the investigation
In the first month of the year 2023, Hindenburg Research had published a report on Adani Group. In this report, many allegations were made against companies associated with Adani Group. Gautam Adani was the fourth richest person in the world at that time. After this report, shares of Adani Group companies fell by 80%. This report of Hindenburg caused a lot of heat in the political circles also. However, Adani Group completely rejected these allegations. Later SEBI’s investigation also revealed nothing. When the allegations did not prove to be true, the shares of Adani Group companies went up again. Gautam Adani had said that the Hindenburg report was brought not only to destabilize the group but also to defame India politically.
Report was also published on these companies
Apart from Adani Group, Hindenburg Research has published reports on many big firms like Dorsey’s Block Inc. and Icahn’s Icahn Enterprises. According to Bloomberg, the total wealth of these three companies took a hit of $99 billion that year. Whereas the market cap of the listed companies of these groups fell by $173 billion. Anderson has told about the journey and struggles of the company in his post. Hindenburg Research also faced three lawsuits and financial challenges. Anderson also shared plans to open-source the research and processes developed by Hindenburg.
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