Hindenburg Research's founder Nathan Anderson announced on Wednesday he would disband the firm whose short reports on companies typically led to sharp plunges in the stock prices, and in some cases, investigations by authorities.

Hindenburg Research, the prominent US-based short-selling firm known for targeting high-profile companies such as the Adani Group, is set to be disbanded, according to its founder, Nate Anderson. In a statement published on the firm’s website,

Founder Nathan Anderson says he and his team are ready to move on to the next chapter in their lives after just eight years.

The firm bet against publicly listed companies they believed had accounting issues, was being mismanaged or committing fraud, typically following a long period of investigation

Famous short seller Hindenburg Research, which exposed frauds at Nikola and Lordstown Motors, among others, announced that it would wind down its operations

Nate Anderson, the short seller who made his name with campaigns targeting billionaires Gautam Adani, Jack Dorsey and Carl Icahn, said he’s disbanding his small but renowned firm, Hindenburg Research.

US-based Hindenburg Research, known for its controversial short-selling practices, is shutting down operations. The closure has raised questions about the firm’s practices, its impact on markets, and the possible reasons behind this sudden move.