Hindenburg Research has officially shut down, with Nate Anderson disbanding the firm.

In a surprising turn of events, Nate Anderson, the founder of Hindenburg Research, announced on Wednesday that the well-known U.S.-based financial research firm is closing its doors. Hindenburg gained international recognition for its explosive short-selling reports, which exposed alleged corporate fraud and financial misconduct in companies like Nikola, Adani Group, and Lordstown Motors.

The firm’s investigations frequently triggered market turmoil and highlighted issues in corporate governance, establishing its reputation as a bold watchdog in the financial sector. However, Anderson’s decision to dissolve the firm has left analysts and investors pondering the motivations behind this unexpected choice.

Although Anderson has not shared specific reasons for his decision, this signifies the conclusion of a significant chapter for one of the most controversial and influential research firms in recent memory. Further updates regarding his future endeavors are eagerly anticipated.