Hindenburg accused Adani of using shell companies to say there was a larger float of shares outstanding, and then they could bid up the stock price. There's also a claim that the auditors who were looking at Adani's books were at best inexperienced. So what you have here is a situation that honestly, none of the single elements look all that bad, but in totality, I think that you have a company has manipulated itself within one of the largest economies in the world.
If revenge travel was supposed to slow down, then AirBnB hasn't noticed. Dylan Lewis and Tim Beyers (0:15) discuss:
- A very healthy quarter for AirBnB, and how the travel company continues to grow its footprint. - AirBnB's $1.5 billion "waste of capital." - Upstart's not too bad quarter, and questionable use of its balance sheet. - One thing to do whenever you buy a stock.
(17:02) Bill Mann and Ricky Mulvey look at Hindenburg Research's report on Adani Group, and a historic parallel that offers some insight for today.
Companies discussed: ABNB, UPST, ADANIENT
Host: Dylan Lewis Guests: Tim Beyers, Bill Mann Producer: Ricky Mulvey Engineer: Rick Engdahl
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