hindenburgresearch
Given that Carl Icahn has styled himself as a 50+ year warrior for corporate transparency, we expected he would provide clarity on the issues we highlighted. Yesterday, Icahn Enterprises released its quarterly results, presentation and its response to our report. In its response, Icahn Enterprises failed to address every key issue we raised. Instead, it rehashed its prior opaque and inadequate disclosures. Perhaps most importantly, the company failed to disclose basic details of Carl Icahn’s margin loans, which we strongly suspect represent a near-term critical threat to IEP unitholders. Perha...
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What’s New In Activism – Sarissa Turns Up The Heat On AmarinActivist investor Sarissa Capital Management upped its efforts to remake the board of U.K.-based drugmaker Amarin Corporation plc (NASDAQ:AMRN) with a lengthy investor presentation published on a newly set up website. Sarissa is seeking seven director seats and the removal of Amarin Chairman Per Wold-Olsen. Q4 2022 hedge fund letters, conferences and more The activist wants a board overhaul at Amarin, starting with the dismissal of Chairman Wold-Olsen, whom the investor holds responsible for failing to keep management accountable for ...
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What’s New In Activism – Peltz Welcomes New Unilever CEOUnilever plc (NYSE:UL) named the head of a Dutch dairy cooperative as its next CEO in a move applauded by Trian Partners’ Nelson Peltz, who joined the consumer goods giant’s board last year in the aftermath of a failed 50-billion-pound ($61 million) deal. Q4 2022 hedge fund letters, conferences and more Schumacher succeeds Alan Jope, who in September announced his retirement after drawing criticism from shareholders disgruntled with his failed efforts to buy GlaxoSmithKline’s consumer health arm. Billionaire investor Peltz, who is said to...
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Hindenburg Research’s report on Adani Group, providing evidence on how the group has engaged in fraud scheme. Today we reveal the findings of our 2-year investigation, presenting evidence that the INR 17.8 trillion (U.S. $218 billion) Indian conglomerate Adani Group has engaged in a brazen stock manipulation and accounting fraud scheme over the course of decades. Gautam Adani, Founder and Chairman of the Adani Group, has amassed a net worth of roughly $120 billion, adding over $100 billion in the past 3 years largely through stock price appreciation in the group’s 7 key listed companies, which...
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Tecnoglass Inc (NASDAQ:TGLS) is a Colombia-based producer of glass for residential and commercial buildings founded in 1984 by two brothers, Jose Daes and Christian Daes, who currently both serve as directors and CEO & COO, respectively.Q3 2021 hedge fund letters, conferences and more The stock has surged ~390% this year on record results fueled by a pandemic real estate boom in Florida, the company’s key market. Recently, U.S. census data shows that new residential building permits have peaked, signaling a fundamental headwind going forward.Our months-long investigation has included review of...
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Traders may flock to these seven Hindenburg Research names as future meme stocks Q1 2021 hedge fund letters, conferences and more Hindenburg Research has become one of the leading short seller firms on Wall Street over the past year. Hindenburg Research made a huge impact with a crushing short report on Nikola Motors (NASDAQ:NKLA). NKLA stock collapsed. Since then, Hindenburg has remained active in the short-selling game, and it has generally had more successes than failures. That’s especially laudable given that this is a terrible market for short sellers. Notable short sellers such as Andrew...
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Hindenburg Research have taken a short position in shares of Purecycle Technologies Inc (NASDAQ:PCT). Q1 2021 hedge fund letters, conferences and more PureCycle is the latest zero-revenue, ESG-themed SPAC taken public with a bold story about how it will someday revolutionize the plastics recycling industry.The company’s insiders and SPAC sponsors do not seem inclined to wait to see how its claims will work out: they’ve collectively positioned themselves to clear ~$90 million in cash and tradable shares before the company generates a single dime in revenue.PureCycle’s Chairman/CEO and other ass...
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Hindenburg Research’s Response to Clover Health Investments Corp (NASDAQ:CLOV): Regular Investors And Senior Citizens Shouldn’t Be the Last to Know Q4 2020 hedge fund letters, conferences and more We have reviewed Clover Health’s response to our report this morning and appreciate that the market now has significantly more information about the company than it did yesterday. The company’s response consistently refers to us as “short sellers” but, as a reminder and as we disclosed in our report yesterday, we have no pecuniary interest in publishing our research on Clover, no short position in Cl...
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After extensive research, Hindenburg has taken a short position in shares of Kandi Technologies.Q3 2020 hedge fund letters, conferences and moreToday we reveal what we believe to be a brazen scheme by China-based, NASDAQ-listed Kandi Technologies Group to falsify revenue using fake sales to undisclosed affiliates.Our investigation included extensive on-the-ground inspection at Kandi’s factories and customer locations in China, interviews with over a dozen former employees and business partners, and review of numerous litigation documents and international public records.We unmasked Kandi’s “un...
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Typing furiously with sweat pouring down his forehead, Dan Ives of Wedbush Securities sees more than 50% upside on Nikola. “The hill is worth at least $30 billion,” Dan mentioned in his update. “This is a hidden asset the street is missing.”Q2 2020 hedge fund letters, conferences and moreNikola sold off late last week after Hindenburg Research released a research report depicting an alleged case of fraudulent activity. The most pressing evidence Hindenburg uncovered was the Nikola One in motion video.In 2018 Nikola posted a video to YouTube called “Nikola One Electric Semi Truck in Motion”. Th...
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