Andrew Left, founder and CEO of Citron Research
Adam Jeffery | CNBC
Citron Research, which was forced to close its short position in GameStop amid a retail frenzy, said on Friday 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 will focus on providing side multibagger opportunities for individual investors.”
Short seller and founder of Citron Research, Andrew Left, said earlier this week that after speculative retailers increased GameStop shares, he covered most of his short position in GameStop with losses. He previously said that GameStop would return to $ 20 per share “quickly” and called for attacks from the “angry mob” that owns the shares.
“20 years ago we started Citron with the intention of protecting the individual against Wall Street, against fraud and action promotions were just everywhere,” Left said in a YouTube video on Friday. “Where I started, Citron had to be against unity, in fact I became unity.”
“So, starting today, Citron Research will no longer publish what can be considered missing sales reports,” Left added. Left said the company will now focus on long-term opportunities for investors.
In 2020, the performance of the Citron fund said that its long recommendations increased by an average of 121% from the date of the recommendation to the peak of the stock, said Left.
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