Hindenburg Research, known as a corporate muckraker, is shutting down after completing its investigations. Major cases include the Adani Group and Nikola Corporation.

Bengaluru - Hindenburg Research’s founder has decided to disband the short-selling firm whose reports erased tens of billions from the market values of companies including India’s Adani Group and Icahn Enterprises.

Adani group stocks surged as news of Hindenburg Research's closure emerged, alongside positive developments in the Israel-Hamas conflict, increasing market capitalization by Rs 28,000 crore. Notably,

Founder Nathan Anderson said Hindenburg's intense work had taken a toll on his personal life, and while there were no specific reasons for the closure, the plan had always been to shut down the firm after completing their current projects.

Hindenburg Research, the firm that wiped over $100 billion off the Adani Group's market value in 2023, has announced its closure. The announcement came as a surprise, as the short-seller was pursuing probes against some of the biggest corporate moguls worldwide.

In 2023 and in 2024 as well, Hindenburg's report on the Adani Group caused a stir, with the Group stating that the firm had published lies and many politicians in India also rubbi

Hindenburg Research, which made international waves with campaigns targeting billionaire Gautam Adani that wiped billions from market value of his group companies, will disband, its founder Nate Anderson announced on Thursday.