Citron Stops Publishing Short-Selling Research after GameStop’s Shock

Citron Stops Publishing Short-Selling Research after GameStop’s Shock

Citron’s short-seller Andrew Left has warned that his company will no longer publish short-selling reports, according to Reuters. The development follows outrage against Citron by Wallstreetbets after retail traders sent GameStop shares up, against Left’s short-selling position. 

  • The decision to stop publishing short-selling research comes days after Citron abandoned its bet against GameStop after its stock soared almost tenfold in a fortnight.
  • Left had shorted GameStop earlier in the month when its share price was about $40, expecting it to halve in value, but later forced to cover Citron’s position.
  • Retail traders bought heavily-shorted stocks like GameStop, AMC Entertainment Holdings, and BlackBerry Lt, prompting professional short-sellers and hedge funds to cut losses. 
  • Short-sellers typically bet against companies that they believe have outdated business models or are overvalued. 
  • On Friday, Left reiterated that GameStop was a dying business, and its stock price would fall sharply in the future.

Citron Research is a research firm founded by Andrew Left that provides short-term focused stock market information centered on terminal and fraudulent business models.

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