Tag

Hindenburg

All articles tagged with #hindenburg

business2 years ago•1 min saved

Deloitte Resigns as Adani Ports' Auditor Amidst Concerns and Differences

Deloitte has decided to resign as the auditor of Adani Ports due to concerns over certain transactions flagged in a report by Hindenburg. Deloitte had previously pointed out these transactions in its report and gave a qualified opinion. The move raises questions about the financial management of the Adani Group, which has faced allegations of improper use of tax havens and convoluted related party transactions. Deloitte had asked Adani Ports to conduct an independent inquiry into the flagged transactions, but the company did not agree. Adani Group's stocks lost significant market value following the report but have since recovered.

via Reuters India|

#adani-ports #auditor-resignation #business

finance2 years ago•0 min saved

Hindenburg short report causes Tingo Group's shares to plummet.

Shares in fintech company Tingo dropped after short seller Hindenburg Research took a short position, claiming that the company's business model was "built on lies". Tingo, which provides loans to small businesses in Brazil, denied the allegations and said it would take legal action against Hindenburg.

via Financial Times|

#finance #fintech #hindenburg

finance2 years ago•9 min saved

Icahn Enterprises' Future Uncertain After Hindenburg Takedown.

Shares of Icahn Enterprises have fallen over 50% due to a short report from Hindenburg and investor Bill Ackman. The company pays $8 per unit in dividend annually, resulting in a yield of almost 40%. However, the sustainability of this payout is uncertain due to the company's overleveraged position and fluctuating revenues. The company's unit offerings have caused dilution, but the decline in new shares issued and low bar of sales and earnings growth may mitigate this. The biggest risk is a potential distribution cut, which could significantly impact the company's share price. Despite the risks, the author believes a position in Icahn Enterprises is worth it for the potential high yield and future revenue growth.

via Seeking Alpha|

#dividend #finance #hindenburg

finance2 years ago•2 min saved

Hindenburg Report Sparks Controversy and Losses for Jack Dorsey and Cash App

Cathie Wood, founder of Ark Invest, criticized Hindenburg's short report on Block Inc. as "wildly misleading" and accused the short seller of underestimating the intelligence of investors and analysts. Ark Invest has been buying up Block shares since the release of the report, holding the stock in three of its ETFs. The short report claimed that Cash App was the only electronic P2P payment processor mentioned in a COVID-19 fraud indictment, but failed to mention that the defrauded funds had come via Bank of America.

via Benzinga|

#block-inc #cathie-wood #finance