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BUZZ-Shares of Hindenburg's short target firms surge

ReutersJan 16, 2025 4:49 PM

A batch of Hindenburg Research's short targets jump on Thursday after founder Nathan Anderson announced on Wednesday he would disband the firm

Hindenburg bet against publicly listed companies they believed had accounting issues, was being mismanaged or committing fraud, typically following a long period of investigation

Carl Icahn's Icahn Enterprises LP IEP.O gains 8.5% and Jack Dorsey-led Block SQ.N firms 2.7%, while used car retailer Carvana CVNA.K gains 7.7%

Since Hindenburg's respective scathing reportz on the companies, IEP has lost 82% of its value, while SQ has added 16.7% and CVNA is up 7.2%

Among other Hindenburg targets - Roblox RBLX.O up 3.1% on Thursday and DraftKings DKNG.O rises 3.4%

(Reporting by Medha Singh)

((medha.singh@thomsonreuters.com))

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