Short Seller Hindenburg Closes Up Shop & Bezos Enters the Space Race
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And considering public gives you access to stocks, bonds, crypto, and options all on one platform, sometimes you need a little help navigating all of those choices.
Check out public.com slash morningbrew and get some alpha from Alpha. Paid for by Public Investing. Full disclosures in podcast description. Our first story goes out to all the short kings out there, and I'm not just talking about height. Nate Anderson, the man behind the famed short-selling firm Hindenburg Research, tossed in the towel saying he was closing his firm due to the stresses of the job. Hindenburg made a name for itself by going after the giants of the corporate world, including the Indian conglomerate Adani Group, the once high-flying hydrogen truck startup Nikola, and household names like Carvana, Icon Enterprises, and Jack Dorsey-owned Block. Between Block, Adani Group, and Icon Enterprises...
Hindenburg's deeply researched reports knocked as much as $173 billion off their market value. It's not easy to destroy that much value amidst one of the best bull runs U.S. equities have seen in decades, but Hindenburg's approach created a loyal following that allowed it to punch above its weight. Not all of its shots hit its target, though. Since publishing a report about Roblox in October, the children's game platform has seen its stock rise 50%, and shares of its most recent target, Carvana, have recovered and are up about 5% this month.
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