An activist short-seller is making a name for itself by taking on Carl Ichan, Gautam Adani and others

Hindenburg Research, founded by Nate Anderson, has become a prominent voice in activist short-selling, shining a light on shady companies and targeting high-profile individuals.

Short-selling involves borrowing assets and selling them with the expectation of buying them back later at a lower price for a profit.

Hindenburg has a track record of uncovering wrongdoing in companies, leading to significant share price declines.

One of Hindenburg’s most notable campaigns was against Indian billionaire Gautam Adani, accusing his companies of stock manipulation and accounting fraud.

This led to investigations and a plunge in Adani’s businesses.

Hindenburg also went after investor Carl Icahn, highlighting inflated asset valuations and leverage, causing a drop in Icahn Enterprises’ share price.

Beyond their public reports, Hindenburg has also played a role as a whistleblower, exposing fraud in private companies such as Nanban Ventures and Tingo Group.

Hindenburg’s work has earned them recognition as a standout performer in short-selling, with impressive results in their targets.

They have consistently topped lists of notable short sellers, with their reports often triggering significant share price declines.

Despite the controversial nature of short-selling, Hindenburg has injected “a breath of fresh air” into the sector, promoting transparency and integrity in financial markets and highlighting issues that might otherwise go unnoticed.