After dropping a bombshell on Gujarat tycoon Gautam Adani, Hindenburg Research announced that it would disclose “another big” expose, causing people to wonder who the US short seller will target next.
On Thursday, Hindenburg Research tweeted: “New report soon—another big one.”
The US short-seller on January 24 attacked Adani group with a 106-page-long report accusing the firm of various financial malpractices. The report, just ahead of the Adani Enterprises share sale, triggered a $86 billion rout in the group’s domestically listed stocks and an overseas sell-off in its bonds.
Adani Group boss Gautam Adani lost $28 billion, over 60 per cent from its peak (when he was the world’s second richest man), a recent survey said. (ALSO READ: Gautam Adani ‘lost ₹3,000 crore per week’, fortune down 60%: Report)
Hidenburg Research has not revealed about whom they will bring the new report, but speculation is high that the new report may deal with the ongoing bank crisis. (ALSO READ: Third collapse in a week? Big US banks rush to rescue First Republic Bank)
Hindenburg Research is a financial research firm that examines derivatives, credit, and stock for possible mismanagement, bookkeeping irregularities, and hidden transactions. The firm reveals its findings in reports before investing its own money and betting against the target.