Andrew Left, Founder and CEO of Citron Research
Adam Jeffery | CNBC
Citron Research, which was forced to close its short position in GameStop amid a frenzy in retail, said on Friday that it would no longer publish short reports and instead focus on long positions.
“After 20 years of publication, Citron will no longer publish ‘short reports’,” the firm said in a tweet. “We will focus on providing long-term multibagger opportunities for individual investors.”
Shortcut seller and founder of Citron Research, Andrew Left, said earlier this week that after speculative retailers boosted GameStop’s stock, it covered most of its short position in GameStop with a loss. He said earlier that GameStop would “quickly” fall back to $ 20 per share and called for attacks from the “angry mob” that owns the stock.
’20 years ago I started Citron with the aim of protecting the individual against Wall Street from fraud and the stock promotions were just finished, ‘Left said in a YouTube video on Friday. “Where we started, Citron was against the foundation, we actually became the foundation.”
“Today, Citron Research no longer publishes those that can be considered short-selling reports,” Left added. Left said the company will now focus on long-term opportunities for investors.
In 2020, the performance of the Citron fund said its long-term recommendations are on average 121% higher than the recommended date to the highest point of stock, Left said.
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