Almost two months after rattling the Adani group through its report dated January 24, 2023, Hindenburg Research will soon release a new report on another target, the US short seller said in a tweet a few hours ago without offering any more details.??
"New report soon¡ªanother big one," Hindenburg Research wrote on Twitter.
This comes a few days after?Hindenburg Research was trolled?for failing to spot the fall of Silicon Valley Bank, which is in the home country of the short seller firm itself, i.e. the US.??
Now it remains to be seen who the next target is for Hindenburg research, with back-to-back bank collapses already raising fears in the global financial markets. Given that Hindenburg's last target was India's conglomerate Adani Group, we will have to wait and watch to see whether the next target will be another big Indian firm or someone else.
The US-based Hindenburg Research is run by Nate Anderson.? ?After already targeting 17 companies, Hindenburg Research gained more prominence this year after its scathing report on billionaire Gautam Adani¡¯s group wiped out more than $150 billion from the Indian conglomerate¡¯s market value in just about five weeks since the report came out in late January. As per the ET report, Hindenburg isn¡¯t a hedge fund, and on its website, it describes itself as one that specialises in forensic financial research.
In Hindenburg Research's report on January 24, titled Adani Group:?How The World¡¯s 3rd Richest Man Is Pulling The Largest Con In Corporate History," it was?alleged following a two-year investigation that the Rs 17.8 trillion conglomerate Adani Group has engaged in a brazen stock manipulation and accounting fraud scheme over the course of decades.
Gautam Adani, who was then the world's third richest person and the richest Asian, is now out of the world's top 20 richest list.
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