Short seller Hindenburg Research to shut down
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The news: Nate Anderson has announced the closure of his activist short selling firm Hindenberg Research.
The context: Hindenberg produced investigation reports on the likes of Super Micro Computer, Roblox, Block and Sezzle, before taking short positions in the companies.
Last year, the company drove a selloff in Adani Group, after it accused the Indian conglomerate of improperly using tax havens. Other stocks that had been targeted by Hindenburg include Icahn Enterprises, Clover Health and Nikola.
What they said: "The plan has been to wind up after we finished the pipeline of ideas we were working on," Anderson wrote in a statement.
"And as of the last Ponzi cases we just completed and are sharing with regulators, that day is today," he said.
"Nearly 100 individuals have been charged civilly or criminally by regulators at least in part through our work, including billionaires and oligarchs. We shook some empires that we felt needed shaking."
The sources: Hindenburg Research media release, Wall Street Journal
