Remember Andrew Left and Citron Research? They were the target of exuberant r/WallStreetBets members during the GameStop frenzy because of their short selling.
Well, here’s what the media isn’t reporting: Citron switched to long-only research and trading, and is up over 10,000% in the last month trading “shit coins”, as the firm calls them.
“We just started trading these totally worthless alt coins,” Citron founder Andrew Left said. “The money was too easy. We’d go long on some obscure coin, tweet out a few made-up facts about it, and sell for a 1,000% gain an hour later.”
Before, Left targeted fraudulent and/or overvalued companies that the market valued way too highly. He made a good living exposing fraud and vaporware.
But now, Left admits there’s way more money on the other side.
“I totally get why these GSX guys did it,” Left said, referring to GSX Techedu, a former short target. “I used to hate pump and dump schemes during my days as a short seller, but I feel that I’ve been reborn.”
As our interview concluded, Left pounded his chest and yelled, “Apes strong together!”