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Strategies & Market Trends : The Financial Collapse of 2001 Unwinding

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To: DinoNavarre who wrote (10124)1/25/2023 6:17:11 AM
From: elmatador1 Recommendation

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BREAKING: The Biggest Corporate Fraud In History? The World's Third Richest Man, Gautam Adani's Adani Group Plunges After Short Seller Hindenburg Alleges Fraud ??

Gautam Adani has amassed a net worth of $120 billion, adding over $100 billion in just the past 3 years largely through stock price appreciation in the group’s 7 key listed companies, which have spiked an average of 819% in that period.

Who is Hinderburg?
They are an investment research firm that is a very reputable short-seller. They have called out companies such as Nikola Motor Company, Lordstown Motors Corporation, Clover Health, Kandi and Tecnoglass among others.

Hinderburg has revealed the findings of a 2-year investigation, that presents evidence that the $218 billion Indian conglomerate Adani Group has engaged in a brazen stock manipulation and accounting fraud scheme over the course of decades.

“Even if you ignore the findings of our investigation and take the financials of Adani Group at face value, its 7 key listed companies have 85% downside purely on a fundamental basis, owing to sky-high valuations.”

These are pretty big claims and shares have dropped hard on this report, let's see how this develops.

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