Earlier today, Citron Research founder Andrew Left tried to make the case for his GameStop short. First, his Twitter got “hacked” and he was unable to go live. Next, he went live with Benzinga and the stock promptly skyrocketed as he spoke.
GameStop (GME) stock was up nearly 10% today to $43, likely creating a large loss for Left.
Because of Left’s inability to understand that r/WallStreetBets is an unstoppable force, my firm has initiated a short position on Citron Research.
After careful research, I have concluded that Citron’s fair value is $0 per share. Until Andrew Left and his team start shorting companies that actually go down, we will maintain a large short position against his company. Not only will we profit from the continued GameStop short squeeze, but our short position will also become more profitable as Citron continues to lose money on GameStop.
I first recognized that Citron could be a short target after its report on NIO. The short report on NIO may have been “factual”, but it failed to account for one universal truth: stonks only go up.