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They don't have stock. It's a private company. It caused their valuation to crumble. The short seller was like "there's no way anyone would pay that price per share" and the market was like, yep good call. That does seem overpriced. So their valuation fell.

So now the valuation fell to a point where the owners declined to sell shares to the public at all. They think the shares are worth more than what the marker will buy and the market thinks they are worth less than the company asks.

Spoiler: the market is right. Their valuation doubled in a year. Yes, the valuation tanked ~50% in a few days, but it's still +8-9% in 12 months. It was extremely overvalued.

The business world is cut-throat. Maybe you’re right and the accusations are false, and Hindenburg Research has a significant long position in a competing company, which would give them reason to publish this. If that is that case, Adani should sue them. An unwillingness to do so could be interpreted by investors as the claims being true.

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You're literally describing how the market works though. People doing their due diligence and investigating the proper value of things will be rewarded financially. Either they won't expose themselves to unnecessary risk, or they'll directly profit. They will either preserve their capital or gain more of it.

This is why shorts exist. To financially compensate the due diligence of people who call bullshit on companies.

You just figured out why so many people look at free market and capitalism and see them as insane idea.

Congratulations comrade.

yes maybe, if you don't look at them. They are extremely detailed accusations

Team Brown shouldn't mean Team Fraud

This seems like your ok with defrauding people if the people winning are from India.

If the first thing you go to is race, you're probably the racist my man

Nope, you're just naive or blind.

Actually read the article for the reason for the collapse

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“We also believe India’s future is being held back by the Adani Group, which has draped itself in the Indian flag while systematically looting the nation.

We also believe that fraud is fraud, even when it’s perpetrated by one of the wealthiest individuals in the world.”

There was a ton of proof, actually if you just read a little

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Not shady if it’s true.

When I watch my neighbors lose their job, I feel bad for them.

When I watch billionaires become millionaires, it's just watching a tv show.

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