Dogecoin (DOGE) Statement from Major Short Seller Company
Release: 2024/06/14 02:02 Reading: 968
Citron Research, a prominent short-selling organization, has announced its decision to cease shorting GameStop (GME). However, this move stems not from an evaluation of the company's fundamentals but rather from the organization's acknowledgment of the market's irrationality.
In a statement, Citron Research conveyed, "Citron is no longer shorting GME. This decision is not predicated on our belief in an impending turnaround of the company's fundamentals, but rather on the realization that with $4 billion in the bank, they possess ample leeway to satisfy their loyal shareholders."
While Wedbush has set a target price of $11, Citron acknowledges the unpredictable nature of the market. "Essentially, Dogecoin remains a $20 billion asset," the institution remarked.
Citron Research's founder, Andrew Left, disclosed that he had reopened a short position on GameStop last week. However, this position was "substantially larger" than in 2021, when he was compelled to close his position due to a remarkable rally orchestrated by individual investors who congregated on online forums and squeezed hedge funds.
Please note that the provided information should not be construed as financial advice.
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