If you, like me, you have spent perhaps too much time at the market your first thought may be: "Is this a sign of a top?"
From Yahoo Finance, January 15:
Short-selling firm Hindenburg Research, which rose to national prominence uncovering fraud at EV startup Nikola (NKLA), said Wednesday it would wind down its operations.
"As I’ve shared with family, friends and our team since late last year, I have made the decision to disband Hindenburg Research," founder Nate Anderson wrote in a post on Wednesday. "The plan has been to wind up after we finished the pipeline of ideas we were working on. And as of the last Ponzi cases we just completed and are sharing with regulators, that day is today."
In 2024, Hindenburg uncovered what it said were accounting irregularities at data center company Super Micro Computer (SMCI), which was subsequently forced to delay the filing of some financial statements.
Hindenburg's 2023 reports on Indian conglomerate Adani and Icahn Enterprises both saw the company take on two of the world's most powerful investors.
Hindenburg's biggest report broke in 2020, when the firm revealed failings at EV truck startup Nikola, including uncovering that the company infamously rolled a prototype of its electric semi-truck downhill.
Nikola founder and CEO Trevor Milton was later sentenced to four years in prison after being found guilty of misleading investors....
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