On 15 January 2025, Nate Anderson published a report announcing the closure of Hindenburg Research (HR) the activity short selling firm he founded in 2017.

• Anderson gave no specific reason when he announced the closure of HR the activist short selling firm
• Short selling firms continue to decline based on public information
• HR rose to fame in 2020 with the short call of electric vehicle startup Nikola (NKLA)
• Other targets included: Indian conglomerate Adani, holding conglomerate Icahn Enterprises (IEP), and most recently, server maker Super Micro Computer (SMCI)