Staff Correspondent
Hindenburg Research, the U.S.-based short-selling firm responsible for a massive decline in Adani Group shares last year, has announced its closure. This comes after the company caused a $100 billion loss to Adani Group with a controversial report. Following the announcement, Adani’s shares saw a significant rise of up to 9% in the Indian stock market on Thursday.
This development marks the fall of another pillar of the so-called U.S. deep state. Earlier, as part of efforts to dismantle the deep state, former U.S. President Trump reportedly instructed three American diplomats, including former Ambassador to Bangladesh Marcia Bernicat, to resign.
Meanwhile, questions have been raised regarding former U.S. Ambassador to Bangladesh Peter Haas. An investigation has begun into how he was able to quickly join a private company in Bangladesh immediately after leaving his diplomatic post.
According to a report by the `Hindustan Times`, Adani Group’s shares soared after Nathan Anderson, founder of Hindenburg Research, declared the closure of his firm on Wednesday. Anderson cited personal reasons, stating, “Hindenburg was a chapter in my life, not the defining centerpiece.”
Anderson added that his firm’s work had led to criminal or civil cases against nearly 100 billionaires and oligarchs. “We shook empires that needed to be shaken,” he wrote, emphasizing that change is possible regardless of who you are.
Adani Group’s shares experienced a sharp rise after the announcement. Adani Power saw the highest surge of 9.2%, with its share price nearing tk600. Other companies in the group also reported significant gains, including Adani Enterprises (7.7%), Adani Green Energy (8.8%), Adani Total Gas (7.1%), Adani Energy Solutions (6.6%), and Adani Ports and Special Economic Zone (5.4%).
Previously, Hindenburg Research accused Adani Group of stock manipulation, tax evasion using shell companies, fraud, and money laundering, amounting to $218 billion. They also alleged conflicts of interest against Madhabi Puri Buch, Chairperson of India’s Securities and Exchange Board (SEBI), citing her past investments in Adani Group.
The investigation into Peter Haas and the closure of Hindenburg Research have sparked discussions about the shifting dynamics of global politics and economics. Observers see these developments as indicative of cracks in the deep state’s influence.

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