Last short sellers standing: who’s left after Hindenburg’s exit

Activist short seller Nate Anderson is going out ‘on top’, according to one rival, as difficulties for short sellers mount in a relentless bull market.

Nate Anderson’s research firm Hindenburg is disbanding after eight years.

Costas Mourselas

Feb 2, 2025 – 5.00am

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Nate Anderson, the founder of Wall Street’s top activist short seller Hindenburg, announced this month that he was hanging up his boots. He is just the latest high-profile investor to call it quits.

Anderson, who was best known for betting against electric-vehicle manufacturer Nikola, Carl Icahn and India’s Adani Group, blamed the “intensity and focus” of the job.

Financial Times