Reported 11 months ago
Citron Research, led by Andrew Left, has disclosed the closure of their short position in GameStop due to the company's sufficient cash reserves, with Left indicating a potential short at a $45-$50 stock price level. GameStop recently raised gross proceeds from stock sales and plans to use the capital for corporate purposes. The company's stock rose in premarket trading following a decline since the return of 'Roaring Kitty' Keith Gill, who sparked the meme stock rally. GameStop has seen a 70% gain since mid-May despite a recent 34% decline.
Source: YAHOO