Shares of Hindenburg's short target firms surge

Icahn Enterprises LP

16/01/2025 16:49

** A batch of Hindenburg Research's short targets jump on
Thursday after founder Nathan Anderson announced on Wednesday he
would disband the firm
    ** Hindenburg bet against publicly listed companies they
believed had accounting issues, was being mismanaged or
committing fraud, typically following a long period of
investigation
    ** Carl Icahn's Icahn Enterprises LP  IEP.O  gains 8.5% and
Jack Dorsey-led Block  SQ.N  firms 2.7%, while used car retailer
Carvana  CVNA.K  gains 7.7% 
    ** Since Hindenburg's respective scathing reportz on the
companies, IEP has lost 82% of its value, while SQ has added
16.7% and CVNA is up 7.2%
    ** Among other Hindenburg targets - Roblox  RBLX.O  up 3.1%
on Thursday and DraftKings  DKNG.O  rises 3.4%

 (Reporting by Medha Singh)
 ((medha.singh@thomsonreuters.com))