Andrew Left, Founder and CEO of Citron Research
Adam Jeffery | CNBC
Citron Research, which was forced to close its GameStop short position amid a retail buying frenzy, said Friday it will no longer publish short reports and will instead focus on long positions.
“After 20 years of publishing, Citron will no longer publish ‘short reports’,” the company said in a tweet. “We will focus on providing long-end multibagger opportunities for individual investors.”
Short-seller and Citron Research founder Andrew Left said earlier this week that after speculative retailers pushed up GameStop’s stock, he covered most of his GameStop short position at a loss. He previously said GameStop will “quickly” drop to $ 20 a share, calling out attacks from the “angry crowd” who own the stock.
“20 years ago I started Citron with the intention of protecting the individual from Wall Street, from the fraud and the stock promotions were just over,” Left said in a YouTube video on Friday. “Where we started, Citron should be against the establishment, we actually became the establishment.”
“So as of today, Citron Research is no longer publishing what could be considered short selling reports,” added Left. Left said the company will now focus on long-term investor opportunities.
In 2020, the Citron fund’s performance said its long recommendations were up 121% on average from the recommendation date to the stock’s highest point, Left said.
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