Hindenburg to shut down

Adani can finally sleep easy tonight.

Hindenburg Research, the short-seller that terrorized markets and wiped billions off Adani Group’s valuation, is shutting down.

Nate Anderson, the founder announced the decision in a lengthy blogpost, which highlights the humble beginnings of Hindenburg. Here’s a link.

Backstory: Hindenburg gained global notoriety in 2023 after its report accusing Adani Group of stock manipulation and improper use of offshore tax havens came out.

The fallout erased over $100 billion from Adani companies and triggered regulatory investigations worldwide.

And while the Adani-short may have hogged all headlines, some of Hindenburg’s work was actually quite on point — including the short report on EV company Nikola, which ended up being spot on.

Here’s a quick look at their track record:

Why it matters: over seven years, Hindenburg’s reports led to nearly 100 regulatory charges and wiped billions from overvalued companies.

Critics accused it of profiting from chaos, but supporters saw it as a necessary watchdog.

Anderson plans to open-source Hindenburg’s investigative methods over the next six months, offering a rare glimpse into their playbook.

Adani stocks partied hard today, jumping up to 9% after the news hit the street.