Hindenburg Research, known for targeting Adani Group in 2023 and causing a $140 billion loss in market value, is winding down. Despite facing backlash and stirring controversy, it uncovered corporate fraud globally,

US-based Hindenburg Research, known for its controversial short-selling practices, is shutting down operations. The closure has raised questions about the firm’s practices, its impact on markets, and the possible reasons behind this sudden move.

Adani Group stocks fluctuate after Hindenburg Research shuts down, with most trading in the negative territory.

Hindenburg Research, a US-based short seller founded by Nathan Anderson, will disband after impacting the market values of firms such as Adani Group, Nikola, Block and Clover Health. The firm faced backlash for allegations against various companies.

Hindenburg Research, which made international waves with campaigns targeting billionaire Gautam Adani that wiped billions from market value of his group companies, will disband, its founder Nate Anderson announced on Thursday.

Since 2017, the year Hindenburg Research was founded, its findings exposed several instances of fraud, corruption, and mismanagement across industries including the market-crashing report on Adani and SEBI.

Hindenburg Research, a US investment research firm known for short-selling, and whose reports resulted in wiping out billions of dollars of Indian billionaire Gautam Adani and his companies, has been shut down,