Hindenburg Research Teases Another Big Report Soon, Who’s Next
New York: US short-seller firm Hindenburg Research, which hit headlines for rattling business conglomerates like Adani Group, has tweeted that the firm will soon release a new report, however, it did not reveal much.
This teaser-like tweet has left many in the corporate world guessing who will be the next target. After the Hindenburg’s scathing report, the Gautam Adani-led Adani Group suffered $150 billions of erasure of equity value in a span of less than eight weeks. Adani has slipped from the position of world's second richest billionaire to the 23rd slot in 2022, according to M3M Hurun Global Rich List 2023.
New report soon—another big one.
— Hindenburg Research (@HindenburgRes) March 22, 2023
On January 24, the New York-based forensic research firm accused the Indian conglomerate of ‘brazen stock manipulation and accounting fraud’. The report by Nate Anderson-led forensic research also flagged concerns over debt levels of the Indian company. However, Adani has denied these allegations.
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