look news india
Hindenburg New Report: American short seller firm Hindenburg has once again come into the limelight and this company led by Nathan Anderson has targeted not an Indian but an American company. Hindenburg made serious allegations targeting online gaming platform company Roblox. A report related to the allegations on X account was also shared. In which the company has also been accused of lying to investors.
Allegations against gaming platform Roblox
Reportedly, Hindenburg released a research report on online gaming giant Roblox, alleging that the gaming company misled investors by inflating key metrics by 42 percent. Hindenburg Research also took a short position on Roblox stock.
accused of lying to investors
Nathan Anderson's short-seller firm Hindenburg Research released a report on Roblox Corporation, saying the company falsified its data to Wall Street. Hindenburg claims the video game company is lying to investors and regulators about the number of users on its platform. Not only this, he has also written in his report 'Roblox: Inflated key metrics for Wall Street and a pedophile hellscape for kids'. Hindenberg said in his report that the gaming company was underreporting many active users by 25 to 42 percent more than their actual number. Along with this, Roblox is having a negative impact on children and sending obscene and violent content to children.
Shares fell as soon as the report was announced
The impact of the Hindenburg report was also seen on the shares of the gaming company and suddenly the shares fell by 4 percent. During trading, Roblox shares fell more than 4 percent to $37.50.