Something big soon India: Hindenburg Research's Cryptic post
By : DC Web Desk
Update: 2024-08-10 09:21 GMT
Hindenburg Research, the US based investment research firm, had teased its audience in India with a post on social media platform 'X' that said "Something big soon India."
The post had already garnered wide attention as it got over 4.8 million impressions in the last 8 hours along with 36,000 likes and 10,000 reposts.
However, many users slammed the organisation in the comment section calling it had lost its 'credibility'.
"Who cares now? Credibility lost!!!" A user wrote on 'X'. "Tool kit activated to distract more from Bangladesh " another commented.
"SEBI should consider taking legal action against Hindenburg for market manipulation based on biased research reports that often lack evidence. If Hindenburg has legitimate concerns, they should directly communicate them to SEBI instead of causing unwarranted fear among investors," an 'X' user tweeted in response to the Hindenburg's post.
Earlier, Securities and Exchange Board of India (SEBI) issuing a 46-page show cause notice to Hindenburg had charged it saying the research organisation had made profits with unfair practices and misleading information that resulted in panic selling of the stocks of the Adani Group.
However, Hindenburg refused SEBI's charges and termed the notice as an attempt to silence and intimidate those trying to expose corruption.