Hindenburg Research shut down: Soon after Hindenburg Research founder announced that the firm would disband in the near future, Adani Group CFO has shared a cryptic post on social media platform X (formerly Twitter).
In a post which could be seen as a reaction to the Hindenburg shit down news, Adani Group CFO Jugeshinder Robbie Singh said, “Kitne Ghazi Aaye, Kitne Ghazi Gaye”.
The US-based investment research firm’s founder, Nate Anderson, declared the official disbandment of Hindenburg Research on January 15.
Saif Ali Khan Health Update
The short-selling firm had previously garnered attention in India for its reports that severely affected Gautam Adani‘s business empire, causing substantial financial losses.
The Adani Group experienced significant market value erosion following Hindenburg’s claims, though the group subsequently recovered most of its stock market losses.
Throughout the controversy, Adani and his companies have steadfastly rejected all allegations made by Hindenburg.
Following the closure announcement, Adani Group shares showed remarkable gains. On the BSE, Adani Power rose 9.21%, Adani Green Energy increased 8.86%, Adani Enterprises grew 7.72%, Adani Total Gas advanced 7.10%, NDTV gained 7%, and Adani Energy Solutions improved by 6.63%.
Also Read | Why did Hindenburg Research, short-seller behind Adani Group $150 bn rout, shut down? Read full text of founder Nate Anderson’s personal note
Other companies also showed positive movement: Adani Ports increased 5.48%, Ambuja Cements rose 4.55%, ACC advanced 4.14%, Sanghi Industries gained 3.74%, and Adani Wilmar moved up 0.54%.
Regarding the shut down, Anderson said: “As I’ve shared with family, friends and our team since late last year, I have made the decision to disband Hindenburg Research. The plan has been to wind up after we finished the pipeline of ideas we were working on. And as of the last Ponzi cases we just completed and are sharing with regulators, that day is today.”
Anderson provided no specific rationale for the closure, which comes shortly before the Biden Administration’s four-year term concludes. He explained: “So, why disband now? There is not one specific thing-no particular threat, no health issue, and no big personal issue. Someone once told me that at a certain point a successful career becomes a selfish act. Early on, I felt I needed to prove some things to myself. I have now finally found some comfort with myself, probably for the first time in my life.”
