Opera - Rebuttal of Hindenburg Short Report

Hindenburg came out with Short report on Opera in Jan 2020, when it was trading around $10, about 20% below its IPO price of $12. I was an investor in Opera at that time and while I do think that this report did put Opera management on notice that it is being observed for any questionable related party transactions, it was at best a shallow report, omitted key facts to make their case look genuine and it looked a waste of hindenburg's time as Opera was not at all trading at any premium at that time, and at best it had a downside of another 10-20% which made me wonder why would a short seller go such a length after Opera when there are many other potential targets where the downside is much much higher.

Read →