Citron Research says it will stop publishing short-seller research after the GameStop squeeze mfox@businessinsider.com (Matthew Fox)
Andrew Left of Citron Research is discontinuing short-seller research after the GameStop squeeze.
In a tweet on Friday, Left said, After 20 years of publishing Citron will no longer publish short reports .
Instead, Left will focus his efforts on long-only investment opportunities for individual investors.
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Famed short-seller Andrew Left of Citron Research is throwing in the towel when it comes to publishing short-seller research, according to a tweet on Friday.
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The move comes after an epic short-squeeze in GameStop fueled by traders who frequent Reddit s WallStreetBets propelled shares higher by more than 2,000% this year.
The stock moves come from a mix of traditional investing, rampant enthusiasm, stock-market mechanics and the belief that anyone can meme a fortune into existence.
An army of amateur traders loosely organizing on Reddit have shaken up all preconceived notions about the stock market as they fueled the meteoric rise of GameStop stock.
Shares for GameStop, the electronics retailer that has largely struggled in recent years, have skyrocketed by nearly 2,000% since the beginning of the year. Shares were trading at around $350 on Wednesday, compared to less than $18 a share earlier this month essentially creating billions of dollars in value for shareholders.
On Wednesday alone, the hot stock jumped by more than 100% after Tesla and SpaceX CEO Elon Musk further fanned the flames on Twitter after markets closed Tuesday.
Discord, a platform that allows users to communicate over voice and texts, banned the WallStreetBets server Wednesday amid Gamestop stock's recent surge driven by retail investors, but a company spokesperson said they removed the server "for continuing to allow hateful and discriminatory content after repeated warnings."