US Short Seller Takes On Asia’s Richest Man After Targeting Nikola and Twitter
- Adani stocks slip as Hindenburg alleges corporate malpractice
- Bets against Nikola, Twitter have paid off for short seller
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US short seller Hindenburg Research LLC is targeting Asia’s richest man with accusations of market manipulation and fraud after a run of often-successful bets against companies ranging from electric-vehicle maker Nikola Corp. to Twitter Inc.
The firm run by Nate Anderson published an almost 100-page report on Gautam Adani’s Adani Group, sending shares of the Indian group’s companies tumbling Wednesday. Hindenburg said it’s short Adani securities via derivatives and US-traded bonds. Adani Group rejected the accusations as “baseless” and “selective misinformation.”