Adani group stocks rallied on Thursday after Hindenburg Research, which made international waves with campaigns targeting billionaire Gautam Adani, founder Nate Anderson announced its shutdown.

Hindenburg Research published reports against Indian conglomerate The short-seller accused Adani Group of using offshore tax havens improperly, which the company denied.

Investors of the Adani companies had an increase in their stocks on 16th January 2025, after the announcement that Hindenburg Research would cease to operate. N

Anderson, who founded Hindenburg in 2017, explained in a post on the company’s website that the decision was prompted by the

Hindenburg Research, a US-based short seller founded by Nathan Anderson, will disband after impacting the market values of firms such as Adani Group, Nikola, Block and Clover Health. The firm faced backlash for allegations against various companies.

US-based Hindenburg Research, known for its controversial short-selling practices, is shutting down operations. The closure has raised questions about the firm’s practices, its impact on markets, and the possible reasons behind this sudden move.

Nate Anderson, the short seller who made his name with campaigns targeting billionaires Gautam Adani, Jack Dorsey and Carl Icahn, said he’s disbanding his small but renowned firm, Hindenburg Research.