The massive selloff in Adani shares eclipses those of other short-seller targets like Enron and Wirecard

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An activist of the youth wing of India's main opposition Congress party holds a placard featuring Gautam Adani, chairman of Adani Group, during a protest against what they say are investments by Life Insurance Corporation (LIC) and State Bank of India (SBI) in Adani Group, in New Delhi, India, February 6, 2023.
Gautam Adani's business empire has been under pressure ever since US short seller Hindenburg Research leveled allegations of alleged market m

India's stock regulator tried to calm jittery investors fleeing the stock market — but even that's not helped Gautam Adani, whose companies' shares continue to take a beating

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Art school teacher Sagar Kambli gives final touches to a painting of Indian businessman Gautam Adani highlighting the ongoing crisis of the Adani group in Mumbai on February 3, 2023.
Indian tycoon Gautam Adani's business empire has been targeted by a short seller.

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Fuel made from Russian oil is being funneled to New York by Indian refiners that are snapping up discounted crude

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Oil tanker

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Adani's crisis is casting a cloud over India — and it could benefit China, which is just reopening after 3 years of COVID isolation

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Indian Prime Minister Narendra Modi (R) with Chinese President Xi Jinping (L).
Indian Prime Minister Narendra Modi with Chinese President Xi Jinping.

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Gautam Adani lost $52 billion in 6 days. That's over 3 times what Sam Bankman-Fried lost in a similar timeframe.

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Founder and chairman Of Adani Group, Gautam Adani.
Gautam Adani has lost $52 billion over six trading days after a collapse in his companies' share prices.

Ramesh Dave/Mint via Getty Images)

Gautam Adani lost $52 billion in 6 days. That's over 3 times what Sam Bankman-Fried lost in a similar timeframe.

Tech Insider
Founder and chairman Of Adani Group, Gautam Adani.
Gautam Adani has lost $52 billion over six trading days after a collapse in his companies' share prices.

Ramesh Dave/Mint via Getty Images)

Legendary investor Mark Mobius said he shunned embattled Adani's share sale over debt concerns but he's still bullish on India

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mark mobius
Mark Mobius

REUTERS/Sukree Sukplang

Adani stocks have now wiped out over $100 billion in market value as botched share sale piles on trouble

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Gautam Adani sitting at a conference summit
Chairman and founder of the Adani Group Gautam Adani seen during the News18 Rising India Summit on February 25, 2019 in New Delhi, India.

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Indian tycoon Gautam Adani has abandoned a $2.5 billion fundraising effort in his latest setback following a short seller attack on his business empire

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Chairman Of Adani Group Gautam Adani poses for a profile shoot during an interview on Jlu on July 19, 2010 in Ahmedabad, India.
Share prices of companies under Indian billionaire Gautam Adani's empire are under pressure following a short seller attack.

Ramesh Dave/Mint/Getty Images

Indian tycoon Gautam Adani has abandoned a $2.5 billion fundraising effort in his latest setback following a short seller attack on his business empire

Tech Insider
Chairman Of Adani Group Gautam Adani poses for a profile shoot during an interview on Jlu on July 19, 2010 in Ahmedabad, India.
Share prices of companies under Indian billionaire Gautam Adani's empire are under pressure following a short seller attack.

Ramesh Dave/Mint/Getty Images

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