BANGKOK (AP) — Nate Anderson, the founder of the muckraking financial information firm Hindenburg Research, says he is disbanding the organization after it finished the pipeline of work it set out to do.

Hindenburg Research, the short-selling firm renowned for exposing financial misconduct among corporate giants, is shutting down. Founder Nate Anderson announced the decision in a heartfelt blog post on the firm’s website,

Hindenburg Research, whose reports resulted in wiping out billions of dollars of Indian billionaire Gautam Adani and his companies, has been shut down.

Adani Group stocks fluctuate after Hindenburg Research shuts down, with most trading in the negative territory.

Hindenburg in January 2023 published a report accusing the Gautam Adani-led group of ‘pulling the largest con in the corporate history’

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