Hindenburg Research LLC was a U.S. investment research firm with a focus on activistshort-selling founded by Nathan Anderson in 2017.[2][3][4] Named after the 1937 Hindenburg disaster, which they characterize as a human-made avoidable disaster,[5] the firm generated public reports via its website that allege corporate fraud and malfeasance.[6] Companies that were the subjects of their reports include Super Micro Computer,[7]Adani Group, Nikola,[8]Clover Health,[9]Block, Inc.,[10]Kandi,[11] and Lordstown Motors.[12] The reports also featured defenses of the practice of short-selling and explanations of how short-sells "play a critical role in exposing fraud and protecting investors."[13] The firm disbanded in January 2025 with a note on its website from Anderson.[14] At the time, the Wall Street Journal described it as "Wall Street’s Pre-Eminent Short Seller".[15]