Nathan Anderson has achieved enough notoriety digging into alleged corporate fraud that he knows he may be persona non grata at New York parties.

“I don’t lead with, ‘hello, my name is Nate and I’m a short seller’,” the Hindenburg Research founder says. “That’s a pretty good way to get ejected from any party or social setting.” 

Anderson has made a name for himself taking on some of the most popular businesses to go public in the recent blank-cheque company bonanza, including electric truck start-ups Nikola and Lordstown Motors. 

This week he dropped a bombshell on the already struggling market for special purpose acquisition companies by targeting DraftKings, the sports betting business widely regarded as the catalyst of the boom. Shares initially fell more than 11 per cent but have since largely recovered. 

Spacs are having a record-breaking year with more than $100bn raised so far, according to Refinitiv, but for…

Read more…