Citron Research acknowledged Wednesday in a YouTube video that it unwound the majority of its bets against GameStop's share price, taking "a loss, 100%" to do so. This target represents a 122 percent upside from the stock's Feb. 9 price of $22.50. Shares are up over 130% since the stock's first day of trading last July. (Reporting by Aaron Saldanha in Bengaluru; Editing by Shounak Dasgupta) Lemonade finished Wednesday at $176.64 per share, meaning that a decline to $100 would be a 43% loss. Short-selling guru Citron says won't publish research again Back to video Left, the author of dozens of investigative reports on S&P 500 over the past decade, is credited as helping pioneer the tactic of betting against a stock by publishing research that encouraged others to … Citron’s long bets more than doubled on average last year, Left said. Palantir will sink roughly 33% as reality catches up with its massive rally, Citron Research said Friday.. The trading frenzy, which brought hedge fund Melvin Capital to its knees, underscored how betting against stocks has increasingly become a Sisyphean endeavour. “By no means is Citron saying that Peloton’s revenue will decline by 70% or 80% but even a small decrease in growth will result in a large decrease in share price,” Citron said in its report. Stock quotes by finanzen.net. Shares of GameStop surged 50.3 per cent to $US291.01 at 2.04pm in New York on Friday local time. Lemonade saw its shares fall on Thursday after short-seller Citron Research called out management and put a $100 price target on the firm. Read more: 'Vastly technically disconnected': A market strategist breaks down the 3 indicators that show Tesla is overpriced - and says it's due for a 17% correction in the next 6 weeks, Plus500. How has Citron's share price performed over time and what events caused price changes? Still, bulls argue the impressive revenue growth and revolutionary AI-based online insurance platform will allow Lemonade to thrive going forward. ... Citron Research Backing Up the Sleigh on Facebook December 26, 2018 - 2:51 pm; Founded by Daniel Schreiber and Shai Wininger, Lemonade operates an online insurance platform that uses AI chatbots to help service customers. "Citron closed out its short position this week among the frenzy of buying and selling that has had the price move in wild gyrations between $100 and $500 a share." The firm has published reports on dozens of companies, but its most prominent win was Valeant Pharmaceuticals, which Left called the “pharmaceutical Enron”. Now has a small manageable position. Latest Share Price and Events. He started Citron Resarch -- initially called StockLemons.com -- around 2001. When an investor is short, they believe the price of a share will drop. “I hope he continues to use his gift to root out market abuse,” said Fahmi Quadir, founder of New York hedge fund Safkhet Capital, which doesn’t publicly publish its research reports. Citron’s $100 Price Target on Lemonade Stock Is Entirely Possible ... the company raised the IPO share price to $29. February payrolls increased 379,000 after an upwardly revised 166,000 January increase, pointing to an improving labour market. Lemonade was one of the most successful IPOs of 2020, and its run has continued into the new year. Lemonade stock fell as much as 11% on Thursday after a negative tweet from notorious short-seller Citron Research. Left made the same point in his 2020 letter to investors. Misses on big bets on Tesla, Moderna, and others have cost short-bias funds billions. Being listed on a short report could prove detrimental to a business. Citron later had to suspend a scheduled live stream to explain the call, saying there were “too many people hacking” its Twitter account. The vigilante retail investors succeeded in sending GameStock’s share price into orbit and causing cost-to-borrow prices to spike several times higher than the common threshold for a ‘hot stock’. She and her analysts share their 2021 outlooks on the economy, bitcoin, and Tesla. Tesla ended below $US600. If Citron Research is right, JMIA stock could be another Amazon and worth more than $100 per share By Mark R. Hake , CFA Jan 6, 2021, 12:20 pm EST January 6, 2021 Citron, based in Los Angeles, also published reports on companies that haven’t panned out as well, like airplane parts manufacturer TransDigm and payments-card company FleetCor Technologies. Citron Research Further Criticizes Inovio Pharmaceuticals, Inc.; Investors Who Lost Money Should Contact Block & Leviton LLP Who April 27, 2020, 12:18 PM EDT SHARE THIS ARTICLE Left on Friday still offered a word of caution to traders piling into GameStop: “If you choose to buy GameStop here, it’s caveat emptor.“. On Feb. 9, Citron Research issued a "buy" recommendation for NPA stock and set its target price at $50. Left, 50, didn’t respond to requests for comment. Explore growth companies in the Retail industry. Citron assigned a $25 price target on the Nio stock on Friday, implying a 48% downside to its last closing price. GameStop’s (GME) stock is up again as traders /investors have adopted this company as a trading vehicle. Read more: Cathie Wood's ARK Invest runs 5 active ETFs that more than doubled in 2020. Citron acknowledged the poor performance of short-sellers over the past few years but still declared the fund would be ripping "management a new one.". To close the position at “even” — no losses or gains (not counting commissions) — Citron would use the $350,000 to buy those shares that it received when it sold them short. Citron Research has a history of publishing accurate and effective reports. As Andrew Left himself claimed in the Wall Street Journal (WSJ), “Fortunately I have been more right than wrong”. 'Vastly technically disconnected': A market strategist breaks down the 3 indicators that show Tesla is overpriced - and says it's due for a 17% correction in the next 6 weeks, Goldman Sachs made $200 million in paper gains from shrewd investments as the US went into deep freeze in February, new report finds », 'Big Short' investor Michael Burry has warned of a stock-market bubble and slammed Tesla, Robinhood, bitcoin, and the GameStop frenzy in recent weeks. In fact, short-biased funds lost over 47% through November 2020 alone, according to the HFRX Equity Hedge: Short Bias Index.
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