Hindenburg Research, whose report battered Adani shares, to shut down

Hindenburg Research's founder Nathan Anderson announced he will disband the firm due to the intense nature of the work.

Hindenburg Research's founder Nathan Anderson said he would disband the firm whose reports sparked heavy short-selling by investors and investigations by authorities, wiping billions from the market values of companies including India's Adani Group and US-based Nikola.

Nathan Anderson, who started Hindenburg in 2017, cited the toll of the “rather intense, and at times, all-encompassing” nature of the work as the reason for his decision, in a website post published on Wednesday.