Hindenburg Research, famous for exposing financial fraud and irregularities, has recently announced the closure of its operations. The company exposed the flaws of many big companies around the world, causing investors to lose billions of dollars.
13 Big Corporate Victims Of Hindenburg Research
Hindenburg has targeted many big companies from time to time. Some of the prominent names among these are:
- Adani Group, India
- Allegations: Manipulation of shares and misuse of tax havens.
- Loss: $150 billion value
- Impact: This report damaged the image and market share of Adani Group.
2. Nikola Corporation
- Allegations: The electric vehicle manufacturer made false claims about its products and technology.
- Decline: 99.5% fall in share
3. Mullen Automotive
- Allegations: The company’s financial claims and production capacity were misrepresented.
- Decline: 99% fall in shares
4. Clover Health
- Allegations: Financial fraud and misinformation.
- Decline: 93% in sahres
5. Jumia
- Allegations: Misinformation about the company’s revenue and operations.
- Decline: 90% fall in shares
6. DraftKings
- Allegations: Illegal betting and lack of financial transparency.
- Decline: 78% fall in shares
7. Freedom Holding Corp.
- Decline: 30% fall in sahres
8. Tingo Group
- Decline: 98% fall in shares
9. Lordstown Motors
- Decline: 99%.
10. Vince Finance
- Decline: 99%.
11. SC-Works
- Decline: 99%.
12. Pharma Cielo
- Decline: 97%.
13. Ormat
- Decline: 19%.
Reasons behind Hindenburg’s closure
Nate Anderson, founder of Hindenburg Research, said in the closure announcement that the decision was not taken due to any external pressure or financial problems. He said, “It is time to start a new chapter in my life. I want to focus on family and personal life.”
Hindenburg effect
Hindenburg Research played a key role in promoting financial transparency among companies around the world. Its revelations not only shook the stock market, but also forced many companies to bring transparency in their operations and claims.
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