What is Hindenburg research and how does a short seller operate
The HinduThe story so far: U.S.-based short seller Hindenburg Research has hit back at Gujarat-based Adani Group and accused the conglomerate of “holding back India’s future”. Stocks of Adani Group tumbled last Wednesday after Hindenburg Research published a report titled Adani Group: How The World’s 3rd Richest Man Is Pulling The Largest Con In Corporate History, following a two-year investigation, and raised concerns about its “substantial debt”. Following the report, Adani Group said it was mulling legal action against Hindenburg Research – a move that was welcomed by the financial researcher. Findings of the investigation conducted by Hindenburg Research allege that Gautam Adani, founder and chairman of the group, has added over $100 billion to his net worth over the last three years, largely through stock price appreciation in the group’s seven key listed companies, which have spiked about 819% in the same period.