Adani Green Energy (up 6%) and NDTV (up 6%) surged the most. Following closely were Adani Power (up 5.7%) and Adani Enterprises (up 5.5%). Adani Total Gas (up 4%) and Ambuja Cements (up 4%) also saw significant gains. Adani Ports and Special Economic Zone (up 3.8%) and ACC (up 3.6%) rounded out the list with strong performances. Adani Energy Solutions (up 1.8%) experienced the least significant surge among the listed companies.
In a personal note published on January 15th, Hindenburg founder Nathan Anderson stated that the firm will complete its ongoing investigations, primarily focused on uncovering Ponzi schemes, before officially closing its doors.
Hindenburg's research reports, published since 2023, had significantly impacted Adani Group, leading to substantial losses for the Indian billionaire. All allegations made by Hindenburg were vehemently denied by Adani and his companies.
Anderson did not provide a specific reason for disbanding Hindenburg. His announcement comes shortly after a Republican Congressman on the House Judiciary Committee requested the Department of Justice to preserve documents related to the Adani Group investigations.
In his note, Anderson praised his team's dedication and highlighted the impact of their work in exposing financial fraud, including charges against numerous high-profile individuals.
He also announced plans to publicly share Hindenburg's research methodology, aiming to empower others to conduct their own investigations into financial misconduct.
Anderson stated his intention to spend more time with family and support his team's future endeavors.
Hindenburg Research has gained notoriety for its short-selling reports that often allege financial misconduct by publicly traded companies. Their investigations have significantly impacted the financial markets and contributed to regulatory actions against numerous companies and individuals.