Andrew Left, founder and CEO of Citron Research
Adam Jeffery | CNBC
Citron Research, which was forced to close its short position on GameStop amid a retail shopping frenzy, said on Friday that it would no longer publish short reports and would instead focus on long positions.
“After 20 years of publication, Citron will no longer publish ‘short reports’,” the company said in a tweet. “We are going to focus on giving multibagger long side opportunities to individual investors.”
Short seller and founder of Citron Research, Andrew Left, said earlier this week that after speculative retail traders increased GameStop’s stock, he covered most of his short position on GameStop at a loss. He said earlier that GameStop will drop to $ 20 a share “fast” and called for attacks from the “angry mob” that owns the shares.
“20 years ago, I started Citron with the intention of protecting the individual against Wall Street, against the fraud and the stock promotions that just ended,” Left said in a YouTube video on Friday. “Where we started, Citron should be against the system, in fact we have become the system.”
“Therefore, as of today, Citron Research will no longer publish what can be considered as short sales reports,” added Left. 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 rose an average of 121% from the recommendation date to the high point of the shares, Left said.
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