Who is hindenburg research?
Hindenburg research firm, An US company sitting in america has cost $100 billion to the third richest man of the world "Gautam Adani". But why and how?
Hindenburg research is an short selling compnay founded by Nathan Anderson in 2017. It is located in New York city. Hindenburg research writes about himself in their own website "Hindenburg Research specializes in forensic financial research. Our experience in the investment management industry spans decades, with a historical focus on equity, credit, and derivatives analysis." If you want to read more about them you can visit https://hindenburgresearch.com/about-us/
Why Adani group lost $100 billion?
Hindenburg research published a paper on Adani group on 24th January. Hindenburg research has pointed out all the problems and frauds happening within Adani group and how adani group has manipulated shares of Adani group stocks.
They titled research paper as
Adani Group: How The World’s 3rd Richest Man Is Pulling The Largest Con In Corporate History
If you want to read whole paper you can visit hindenburg website.
Link is here..
What is short selling?
In share market when you but stocks at low price and sell at high you get the profit but there is one more way of earning money which is just opposite. When are very much sure that stock price is going to be down then you first sell at high and then buy at low and this is how you make profit.
Hindenburg first do research and then if they find out something which can cause company loss , they shortsell and earn profit.
How much Adani has lost?
Adani was the at the third position in the list of richest people in world before this hindenburg report. After it was published Adani group has lost approx $100 billion.
It affected LIC and SBI share prices too. Now adani is out of 10 most richest people in world.
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