Adani shares drew retail investors just before US probe pullback

Retail investors increased their stakes in Adani Group companies between December 2022 and September 2024, exposing them to the recent $30 billion selloff following bribery allegations. This risk-taking behavior mirrors their actions after the Hindenburg report, where they profited from the subsequent rebound. While retail investors viewed Adani firms as tied to India's growth, institutional and overseas investors remained cautious.