Hindenburg is known for exposing frauds and corruption but their report on the Adani Group on January 2023, caused a stock market decline worth $150 billion, although in due time Adani managed to recover and the Supreme court gave the group a clean chit.

New Delhi: Hindenburg Research has decided to shut down its operations, the announcement for which was made on Thursday. Since hearing loud announcements regarding the commpany being shut have been circulating for a long time now, to put all rumors to rest, Nate Anderson, the-president announced it to put an end to its hustle .

The adani scense is just another case in a long line of our recent sec investigations that we are now completing," he noted.

Read Also: Hindenburg Research US Based Short Seller That Accused Adani Group Now Is Shutting The Doors.

Hindenburg's In january of2023 an incredible amount of 150 billion was lost worth of Adani group stocks, which caused massive chaos in the country.

Why Does Hindenburg Research Goes Out Of Business?

The firm states in the announcement that this was because of “not any threat, health issue or any big personal issue” as the short seller’s founder explicitly stated.

He said to this that “Someone once told me that at a certain point a successful career becomes a selfish act. Early on, I felt I needed to prove some things to myself. I have now finally found some comfort with myself, probably for the first time in my life. I probably could have had it all along had I let myself, but I needed to put myself through a bit of hell first. The intensity and focus has come at the cost of missing a lot of the rest of the world and the people I care about. I now view Hindenburg as a chapter in my life, not a central thing that defines me.”

He further added, “Fraud, corruption, and negativity often seem overwhelming. Early on, a sense of justice was usually elusive. When it happened, it was tremendously fulfilling. It kept us going when we needed it.”

“Indeed, we had an impact over time— and more than I anticipated at the start of this. Almost a hundred people, including certain oligarchs, have already been pursued civilly or even criminally by the regulators at least partly thanks to our work. We took down some empires that needed to be taken down,” he noted but declined to specify whom exactly he had in mind.

And uncovered that in the next 6 months he wants to prepare and publish a set of materials, as well as videos, in order to be as unequivocally as possible about every side of the model he had developed and the model which was developed by his team regarding the investigation.

At this moment, Anderson stated he is going to be assisting to guarantee all the members of his team get to their desired responsibilities after the completion of the exercises outlined during his speech.

“There are people among us who will set their investigative business and I will promote this idea and support those doing it, only I won’t take part personally. And there are people among us who are now free agents, which is also the case, so don’t hesitate to contact me if you are in need of deterministically talented and easy to work with people which they all are,” he added.

Hindenburg's Assault On Adani GroupThe report released by Hirebach dealt a terrible blow to Gautam Adani’s wealth. Gautam Adani’s net worth was around $150 billion in September 2022, but Hindenburg Research’s accusations in January 2023 started a massive sell-off of Adani Group stocks which resulted in a loss of over $100 billion in his net worth. The combined market capitalization of the 10 companies associated with the group dropped from Rs 19.2 lakh crores on January 24 to less than Rs 7 lakh crores by February 27. Gautam Adani stocks did recover afterwards, but the Supreme Court later cleared the group of faults, saying that news of the