It has 10,000+ customers, ranging from small businesses to large cloud “hyperscaler” providers like Amazon, Microsoft and Google.
(2/x)
Mar 15 • 34 tweets • 12 min read
NEW FROM US:
Operating Behind Enemy Lines: How Fashion Powerhouse LPP S.A. Masked A Fake Russia ‘Sell-Off’ Using Front Entities And Encrypted Barcodes
$LPP.WSE
(1/x)hindenburgresearch.com/LPP
LPP S.A. is an $8.1 billion fashion retailer based in Poland that lays claim to being the largest fashion company in Central and Eastern Europe.
(2/x)
Feb 15 • 57 tweets • 14 min read
NEW FROM US:
Temenos—Major Accounting Irregularities, Failed Products And An Illusive Turnaround
$TEMN.SW $TMSNY
(1/n)hindenburgresearch.com/temenos
Our 4-month investigation into Temenos, involving interviews with 25 former employees, including senior leaders at the company, uncovered hallmarks of manipulated earnings and major accounting irregularities.
(2/n)
Feb 13 • 40 tweets • 11 min read
New From Us:
Renovaro BioSciences—A Worthless AI Shell Game With A Murderous Magician Past
$RENB
(1/n)hindenburgresearch.com/renovaro
$RENB is a biotech company with several preclinical drug candidates that is “committed to curing people with cancers and infectious diseases”.
Weeks ago, it voted to merge with “AI Health” company GEDi Cube, giving the company a pro-forma diluted market cap of ~$567m.
(2/n)
Feb 1 • 27 tweets • 8 min read
New From Us:
LifeStance—A Private Equity-Backed Mental Health Rollup Headed For A Breakdown
$LFST
(1/n)hindenburgresearch.com/lifestance/
LifeStance is a $2.3 billion market cap mental health provider with 6,400 clinicians located across 33 U.S. states.
The company has grown its clinician base at 18% per year in a behavioral health market forecasted to grow ~5% per year until 2030. (2/n)
Dec 18, 2023 • 10 tweets • 4 min read
“The Scope Of The Fraud Is Staggering”
This morning the SEC charged $TIO founder Dozy Mmobuosi and 3 affiliated U.S.-based entities with “massive fraud”.
In its complaint, the SEC alleges Mmobuosi and other defendants “booked billions of dollars’ worth of fictitious transactions through two Nigerian subsidiary companies Mmobuosi founded and controls”.
Dec 15, 2023 • 23 tweets • 10 min read
Maison Solutions is a company that took 6 California Asian-themed grocery stores public on the Nasdaq in October.
The company also owns a 10% equity interest in a Dai Cheong Trading, a distribution company owned by $MSS controlling holder, Chairman and CEO, John Xu.
(1/x)
$MSS went public on 10/5/2023 at $4 per share with a valuation of $69M and closed the same day at $8.96, essentially doubling in value within hours of the IPO.
As of yesterday it had a market cap over $265M.
Nov 13, 2023 • 29 tweets • 11 min read
NEW FROM US: We Are Short Golden Heaven Group, Another Classic "China Hustle"
$GDHG
(1/n)
$GDHG is a NASDAQ-listed company that operates 6 properties in southern China, consisting of amusement parks, water parks and recreational facilities.
(2/n)
Nov 7, 2023 • 30 tweets • 10 min read
NEW FROM US:
EHang—Hollow Order Book And Fake Sales Make This China-Based eVTOL Company Last In Line For Takeoff
$EH
(1/n)hindenburgresearch.com/ehang
$EH is a $903 million market cap, China-based, Nasdaq-listed electric vertical take-off and landing (“eVTOL”) aircraft company.
(2/n)
Oct 18, 2023 • 5 tweets • 2 min read
New From Us:
Nanban Ventures— With “Friends” Like These…
(1/n)hindenburgresearch.com/nanban/
We received a tip in Feb. this year about Nanban - a “too good to be true” investment pitched largely to the Indian-American community.
After several months of research, we concluded that Nanban was likely an investment scheme and shared our findings with the government.
(2/x)
Aug 15, 2023 • 47 tweets • 15 min read
NEW FROM US:
Freedom Holding Corp: Brazen Sanctions Evasion, Hallmarks Of Fabricated Revenue and Risky Bets with Commingled Customer Funds
$FRHC
(1/n)hindenburgresearch.com/freedom/
$FRHC is a $4.6 billion market cap online brokerage business, founded in 2008, formerly based in Moscow and later moved to Kazakhstan.
Its multi-billionaire Chairman & CEO, Timur Turlov, owns over 70% of the company’s shares and has since inception.
(2/n)
Jun 6, 2023 • 44 tweets • 16 min read
NEW FROM US:
Tingo Group: Fake Farmers, Phones, and Financials—The Nigerian Empire That Isn’t
(1/n)
Icahn Enterprises (IEP) is an ~$18 billion market cap holding company run by corporate raider and activist investor Carl Icahn, who, along with his son Brett, own approximately 85% of the company. (2/n)
Mar 23, 2023 • 36 tweets • 12 min read
NEW FROM US:
Block—How Inflated User Metrics and "Frictionless" Fraud Facilitation Enabled Insiders To Cash Out Over $1 Billion
(1/n)
Block, formerly known as Square, is a ~$44 billion market cap company that claims to have developed a “frictionless” and “magical” financial technology with a mission to empower the “unbanked” and the “underbanked”. $SQ
(2/n)
Jan 25, 2023 • 56 tweets • 19 min read
NEW FROM US:
Adani Group – How The World’s 3rd Richest Man Is Pulling The Largest Con In Corporate History
(1/x)
Today we reveal the findings of our 2-year investigation, presenting evidence that the INR 17.8 trillion (U.S. $218 billion) Indian conglomerate Adani Group has engaged in a brazen stock manipulation and accounting fraud scheme over the course of decades. (2/x)
(1/x)
Welltower Inc. $WELL is a healthcare REIT with a $32 billion market cap that is the largest owner of senior housing facilities in the U.S., with investments in 1,568 properties.
(2/x)
Oct 19, 2022 • 21 tweets • 7 min read
NEW FROM US: Establishment Labs: A Financially Stretched Silicone Safety Charade
(1/x)
hindenburgresearch.com/establishment-… $ESTA
Founded in 2004, $ESTA manufactures and sells breast implants that it claims are vastly safer than competitors due to its "revolutionary technology" backed by "rigorous science" and "clinical data".
Sep 29, 2022 • 45 tweets • 18 min read
Trevor Milton, billionaire founder of $NKLA, is currently on trial for fraud.
Shortly after his hydrogen truck company was exposed, an army of hackers and spies started targeting his critics and whistleblowers.
Here's what happened & how we turned the tables.
(1/x)
In September 2020, we reported that $NKLA's hydrogen truck tech was too good to be true.
The report included evidence from a key anonymous whistleblower: @InsiderNikola
Milton was subsequently criminally charged with fraud.
(2/x)
Jun 16, 2022 • 25 tweets • 10 min read
NEW FROM US:
Ebix—This House of "Cards" Seems To Have a Glaring Fake Revenue Problem
(1/x)
hindenburgresearch.com/ebix $EBIX
$EBIX is a U.S. listed conglomerate with a focus on payment services, travel, and IT in India with a market cap of about $800 million and an eccentric Chairman & CEO, Robin Raina.
Jun 1, 2022 • 38 tweets • 13 min read
NEW FROM US: Miracle Cures and Murder For Hire–How A Spoon-Bending Turkish Magician Built A $600 Million Nasdaq-Listed Scam Based On A Lifetime Of Lies
(1/x)
hindenburgresearch.com/enochian $ENOB
Last week, $ENOB's co-founder, “scientific founder”, “inventor”, and largest shareholder, Serhat Gumrukcu, was arrested by Federal authorities over allegations that he conspired in a plot that resulted in the murder of a Vermont father of six.
May 5, 2022 • 18 tweets • 7 min read
NEW FROM US:
Singularity Future Technology—This Nasdaq-Listed Company’s CEO Is A Fugitive, On The Run For Allegedly Operating A Massive Ponzi Scheme
(1/x)
hindenburgresearch.com/singularity/ $SGLY
$SGLY's CEO, Yang Jie, is a fugitive on the run from Chinese authorities for running an alleged $300 million Ponzi scheme that lured in over 20,000 victims.
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