Hindenburg Research, a short-selling firm that targeted technology and electric vehicle companies, is closing up shop

When Hindenburg Research publishes a blog post on its website, it often means that the company’s final days are near.

Today, that company is Hindenburg Research.

Nate Anderson announced Wednesday that he has closed short-selling firm Hindenburg Research, after seven years of issuing damning reports on high-profile companies, including several tech world giants and buzzy startups.

“As I have told my family, friends, and our team since late last year, I have made the decision to dissolve Hindenburg Research,” Anderson wrote in a letter. Blog post. “The plan was to finish after we finished the set of ideas we were working on. And as of the recent Ponzi cases that we just completed and are sharing with regulators, that day is today.

Hindenburg Reports has earned a reputation over the years for its insightful investigations and comprehensive research into neglected and overlooked corners of the public markets. In many cases, company reporting preceded SEC investigations, criminal indictments, and massive stock declines in the companies they targeted.

Anderson said there was no specific reason for Hindenburg’s dissolution today. He said the short selling company had reached a level of success he never expected, and it was the right time to move on.

However, Anderson said that the last seven years he spent managing Hindenburg had taken a toll on his health and personal life. He noted in the blog that he often wakes up in the middle of the night with new ideas for investigations. Anderson also apologized to his family and friend in the post, noting that he will have more time to spend with his loved ones now.

Over the years, Hindenburg has targeted some of the giants of the tech world. Anderson published a short 2024 report on Roblox where he described the gaming platform as “Hell classified as a pedophileWeeks later, Roblox Introducing new safety features for parents On the platform. Hindenburg has also sold publicly traded technology companies such as Super Micro and Block.

Hindenburg has also gained a reputation for working with some of the hottest electric vehicle startups.

Hindenburg targeted Nikola, the hydrogen electric vehicle startup, said in a 2020 report, Shortly after GM announced it had acquired an 11% stake. The short seller claimed that Nikola’s trucks were not operating at full capacity, and accused the company’s leadership of nepotism. The Hindenburg Report was followed by a government investigation into Nikola, eventually leading to a settlement with the Securities and Exchange Commission and the conviction of Nikola’s founder.

In 2021, Hindenburg published A Short report on Lordstown Motorsclaiming that the electric automaker had rigged pre-orders for the EV truck. These allegations turned out to be largely true, according to the Securities and Exchange Commission, which… The electric car company was accused of misleading investors and forced to pay $25 million.