According to Benzinga Pro, on Thursday, during pre-market hours, Super Micro Computer Inc SMCI saw a rise of 3.74%. At the same time, Jack Dorsey‘s Block Inc SQ, Carvana Co and automaker Nikola Corp NKLA also experienced gains of 1.09%, 1.50% and 0.81%, respectively. This uptick followed the announcement of the closure of Hindenburg Research, a well-known short-selling firm.
Hindenburg Research, a prominent short-selling firm known for its high-profile investigations, announced its shutdown on Wednesday. Founder Nathan Anderson cited personal reasons for closing the firm, which had been active since 2017. The firm gained notoriety for its exposés on companies like the SMCI, Nikola and India’s Adani Group, leading to significant market impacts.
Last year, Hindenburg accused Super Micro Computer of “accounting manipulation,” sibling self-dealing and sanctions evasion in a short report issued Tuesday.
Hindenburg’s reports have resulted in nearly 100 civil and criminal charges against various executives and companies. One of its most notable investigations was against the Adani Group in 2023, which led to over $100 billion in market value loss and legal repercussions for founder Gautam Adani. The firm's allegations against Nikola Corp in 2020 resulted in a major stock price drop and led to the resignation of its founder, Trevor Milton.
In its final report, Hindenburg accused Carvana Co CVNA of accounting irregularities, though the company denied these claims. Anderson plans to document Hindenburg’s investigative methods over the next six months, aiming to inspire future market watchdogs.
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