Another well-known short-selling institution exits the historical stage! Founder of Muddy Waters Research announces the dissolution of the company.

Renowned American short-selling firm Hindenburg Research founder Nate Anderson has announced his decision to dissolve the research organization. In a letter posted on the company's website on Wednesday, Anderson wrote: "Nothing specific is wrong - no particular threat, no health issue, no major personal issue. This intensity and focus come at the expense of missing out on the world elsewhere and the people I care about. Now, I see the Hindenburg incident as a chapter in my life rather than defining my core." Anderson founded Hindenburg in 2017, and in the years since, the company has published negative research reports on dozens of companies. Hindenburg's earliest high-profile report was in 2020, targeting the U.S. electric vehicle startup Nikola (NKLA.US). The report included allegations that Nikola faked the autonomous driving capability of a semi-truck in a video, which the company later admitted. Nikola founder Trevor Milton was later sentenced to four years in prison. However, in recent years, well-known short-selling firms have gradually faded from view due to troubling lawsuits, short-selling, and government investigations, while this experienced research organization has remained, earning a reputation as the "bravest short-seller in the world" by taking on powerful and politically connected figures. In 2023, renowned short-seller Jim Chanos closed his hedge fund, and in July of last year, the U.S. Securities and Exchange Commission (SEC) sued prominent short-seller Andrew Left and his company, Citron Capital. In January 2023, Anderson made international headlines by publishing a short report accusing Indian billionaire Gautam Adani of "engineering the largest fraud in corporate history." According to the Bloomberg Billionaires Index, Adani was then the world's fourth richest person. The short-seller then released reports on Silicon Valley figure and Bitcoin enthusiast Jack Dorsey's financial services company Block (SQ.US) and "Wall Street wolf" Carl Icahn's Icahn Enterprises L.P. (IEP.US). These three financiers and their companies vehemently opposed Hindenburg's claims. Nevertheless, that year, the total wealth of the three men evaporated by $99 billion, and the market value of their listed companies dropped by $173 billion. Hindenburg's most recent short report was on the car retailer Carvana (CVNA.US). On January 2, Anderson investigated Ernie Garcia III's Carvana, accusing him and his father Ernie Garcia II of "engaging in accounting fraud for years." The car retailer quickly rebutted Hindenburg's arguments, calling them "intentionally misleading and inaccurate." The stock price quickly rebounded, with a cumulative increase of over 5% this month. Before focusing on short selling, Anderson did some undisclosed work on Wall Street, then tried to make a living by providing tips to the SEC whistleblower program in hopes of receiving rewards. However, this was still difficult to sustain a living. "Empire Shaken" Therefore, he focused his energy on publishing reports online. By early 2020, Hindenburg's influence and reputation were growing. He once assembled a team of 11 people. Despite his earlier doubts about his capabilities, he stated that he and his team proved they could have a huge impact. He wrote: "Nearly 100 people have been at least to some degree implicated in civil or criminal actions by regulators through our work, including billionaires and oligarchs. We have shaken some empires we felt needed shaking." Anderson stated that after completing his final idea and providing regulators with suspicions of Ponzi schemes, he will end the company's operations on Wednesday. Over the next six months, he plans to create a series of videos and materials about the Hindenburg model so that others can understand how the company conducts its investigations. "Now, I will focus on ensuring that everyone on our team can reach where they want to go next," he said.