Adani group stocks surged on Thursday morning following reports that Hindenburg Research, the US-based short-seller that had triggered a massive sell-off in Adani stocks, has stopped operations. Adani group stocks witnessed a significant surge on the BSE, with notable gains in:
- Adani Wilmar (0.54%)
- Adani Power (9.21%)
- Adani Green Energy (8.86%)
- Adani Enterprises (7.72%)
- Adani Total Gas (7.10%)
- NDTV (7%)
- Adani Energy Solutions (6.63%)
- Adani Ports (5.48%)
- Ambuja Cements (4.55%)
- ACC (4.14%)
- Sanghi Industries (3.74%)
Nate Anderson, founder of Hindenburg Research, announced on Wednesday that the firm is ceasing operations. “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,” said Anderson.
However, Anderson didn’t provide a specific reason for shutting down his organization, which is happening just days before President Joe Biden’s term ends and Donald Trump takes office as the President of the United States.
“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,” said Anderson.
Notably, Hindenburg Research has been targeting the Adani Group over the past few years, making several allegations. However, the Adani Group and its leadership have consistently denied the allegations.
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