Another big report coming soon says Hindenburg Research
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New York: Hindenburg Research is set to 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 -- another big one," said the US-based short-seller in a tweet.
The latest tweet by the research firm which is run by Nate Anderson, didn’t provide any specific details about the next report’s release, or what it intends to say.
Hindenburg Research released the damning report on billionaire Gautam Adani’s group, which led to a wipe-out of billions of dollars from the Indian conglomerate’s market value in about five weeks since publication on January 24.
The short-seller accused Adani Group of indulging in accounting fraud and stock manipulation, allegations which were denied by Adani.
Gautam Adani lost around $61.7 billion of his wealth on a year-to-date basis. Adani was worth $58.90 billion on Wednesday, much lesser than $150 billion in September 2022.
Hindenburg isn’t a hedge fund, and it prefers to be known as a forensic research outfit that operates with its own capital.
The tweet has left the users wondering if another Indian company would be targeted. "Hopefully not another Indian company! This time do a Chinese one for a change", tweeted a user.