Reported 6 months ago
Renowned short-seller Andrew Left is once again betting against GameStop, deeming the stock 'extremely overvalued' after its recent surge, despite incurring a 100% loss on his previous short position in 2021. Left managed to profit from his recent short against GameStop when its shares fell after the initial surge sparked by trader Keith Gill. Left indicated his bet was prompted by a Reddit post by Gill revealing a significant stake in the company. Despite this, Left acknowledges the risk of betting against 'cult' stocks like GameStop, noting that his current short is a smaller portion of his portfolio.
Source: YAHOO