Columnist for @wsj lacks market understanding?
Market determines valuation. To counter charges of fraud doesn’t need claims co is “extremely well-run” or justifying valuation.
Tesla was trading at 500x earnings, Amzn on -ve earnings with high valuations.
Does that mean fraud?

That’s what @dhume is saying. I’m not making that case.
I’m pointing out the question is of fraud not valuation as Dhune is claiming.
Those are different arguments.

I’ve no axe to grind in this anyway.
Not an investor in Adani Group and if there is fraud let it come out.
Short-sellers have accomplished the goals of booking a profit. I’m not sure there is any political angle involved here. Short attacks are mainly about profit.

I think it could have been better framed (also without dragging Modi into it)
Is Adani Group overvalued is a fair question for anyone looking to invest (or short), but it doesn't look like the primary thesis in the short attack.