Adani Group Shares Soar After Hindenburg Research Announces Closure

New York: A day after Hindenburg Research’s founder Nathan Anderson announced to disband the firm, values of companies including India’s Adani Group and US-based Nikola—who were blamed of irregularities by the short-seller—soared on Thursday.

Immediately after the Indian markets opened on Thursday, Adani group stocks started rallying high.

Nathan Anderson had started Hindenburg in 2017. The founder claimed the “rather intense, and at times, all-encompassing” nature of the work led him to take the decision of shutting it down.

In his farewell letter posted on the firm’s website, he wrote, “I write this from a place of joy. Building this has been a life’s dream. I did not know at the outset if it would be possible to find a fulfilling path. This wasn’t an easy option, but I was naïve to the danger and felt drawn to it magnetically.”

“…it wasn’t always obvious to me, but I now view all of this as a love story. To my wife, you have been so patient with me. It has not been easy, to put it mildly, and I am forever grateful that you have sacrificed so much and pushed forward with me. And now, my dear, we get to enjoy it together for as long as this world will let us,” he adds.

“To my family and friends, I’m sorry for the times I have ignored you while I let my attention be drawn away. I can’t wait to have more time to share with you together. Lastly, I want to express how grateful I am to our readers,” he concludes.

Meanwhile, Adani group of companies’ stocks surged up to 9% while intraday trading. On the stock exchanges, Adani Power’s share price rose by 9.2% to Rs 599.9 per share, Adani Green Energy climbed 8.8% to Rs 1,126.8 per share, Adani Enterprises advanced 7.7% intraday to Rs 2,569.85 per share, Adani Total Gas increased 7.1% to Rs 708.45 per share, Adani Energy Solutions gained 6.6% to Rs 832 per share, and Adani Ports grew 5.4% to Rs 1,190 per share, reported the equitypundit.com.