(NYTIMES) – The US federal authorities recently charged the founder of the electric vehicle manufacturer Nikola, which had gone public in June last year, with defrauding investors. They were led there partly by the work of a little-known Wall Streeter Nathan Anderson.
A stock researcher and investor, Mr Anderson and his upstart firm, Hindenburg Research, are having a moment. Earlier this month, the Securities and Exchange Commission (SEC) subpoenaed the sports betting firm DraftKings after Hindenburg said in a June report that it had potentially enabled black-market betting.
And shares of Lordstown Motors have fallen nearly 70 per cent since Hindenburg said in March that the electric truck-maker was hyping commercial interest for its vehicle. The federal authorities are investigating Lordstown’s claims.
The five-person firm, which takes its name from the German airship that blew up in 1937, is a newbie in the world of finance. Founded in 2017,…