Is Morpheus Research Relaunching to Take Aim at Adani like Hindenburg?

Nathan Anderson, the mind behind Hindenburg Research, has stepped forward to endorse a budding investigative firm known as Morpheus Research, as confirmed by his recent statements on X. This marks Anderson’s first public declaration following the shuttering of Hindenburg Research in January. The implicit show of support from Anderson towards Morpheus Research suggests that this new entity might adopt analogous financial investigative practices and tactics as its predecessor, Hindenburg Research.

Morpheus Research, established in 2025 by a collective of financial analysts, operates as a platform devoted to comprehensive analytical research into various companies. The primary objective of this firm is to unearth instances of fraud and misconduct within the financial markets through its investigative endeavors. A peek into its mission statement reveals a commitment to sharing detailed investigative research concerning companies that are perceived to be fundamentally misjudged by the market. Essentially, the firm embarks on a journey to unveil uncomfortable truths about the targeted companies through meticulous research and analysis.

In light of Morpheus Research’s emergence, it is pertinent to glance back at the legacy left by Hindenburg Research, the precursor to this newly created body. With its inception dating back to 2017, Hindenburg Research carved a name for itself through a series of investigative reports that shed light on financial irregularities and fraudulent activities within prominent corporations. Notably, an investigation by Hindenburg Research directed at the Adani Group alleged instances of market manipulation and accounting malpractices, resulting in a significant market value loss for the concerned entity. The chapter on Hindenburg Research came to a close on January 15, 2025, with Anderson stating that the team had effectively accomplished their investigative targets, leading him to seek a more balanced lifestyle.

Anderson took to social media to tout the team behind Morpheus Research by acknowledging them as a talented group, some of whom are alumni from Hindenburg Research. The evolving narrative around Nathan Anderson’s continued involvement in financial investigative practices through his endorsement of Morpheus Research hints at a potential reemergence of the investigative prowess synonymous with Hindenburg Research. This transition from Hindenburg Research to Morpheus Research establishes a continuum in unearthing financial irregularities and exposes a commitment to maintaining vigilance within the financial domain.