Citron’s CEO, GameStop’s share price surge, followed by a huge loss
[시트론리서치 트위터 캡처]
(New York = Yonhap News) Correspondent Kang Gun-taek = A famous short-selling investor on Wall Street, who made a huge loss in the wake of the anger of American ants (individual investors), made a public promise that he would not release a short-selling report again.
Andrew Left, CEO of Citron Research, said on YouTube and Twitter on the 29th (local time) that “Citron Research will stop short selling research. We will not publish short selling reports anymore.”
“We started Citron 20 years ago with the intention of protecting individual investors from Wall Street and other frauds,” said Left. “We started Citron to fight vested interests, but in reality we became vested.”
“So as of today, Citron Research decided not to publish anything that could be considered a short selling report.”
Instead, Citron Research plans to focus on recommending buying opportunities for investors, Left added.
The announcement by Left Representative and Citron Research that they would give up short selling, which is their’major’, is nothing but a declaration of additional surrender to ants.
Left, who has been betting on a certain stock price decline, recently announced a short sale for GameStop, a video game distribution chain, and gained backlash from individual investors.
Individual investors gathered around the online community Reddit’s’Wall Street Betz’ discussion room intensively bought stocks such as GameStop.
Hedge funds, which anticipated a decline in GameStop’s stock price and began to invest in short-selling investments by borrowing and selling unowned stocks and then buying and repaying them later. Worked.
The CEO of Left, who called the ants “an angry crowd,” and assured that “GameStop stocks will fall rapidly to $20 per share,” had to suffer a big loss by repurchasing the borrowed stock at a much higher price.
It is reported that the left representative even called the creator of the’Wall Streetbets’ forum to inform them that some investors, angry with the loss, threatened their children, and begged for “help”.
Unauthorized reproduction-redistribution prohibited>
2021/01/30 03:17 sent