GameStop sells short, Citron Research says it will no longer short GameStop
2024-06-12 12:45:45
On June 12th, Citron Research, the seller of GameStop, announced that Citron would no longer short GME, not because it believed that the company's fundamentals would improve, but because GameStop currently has $5 billion in cash reserves, which is enough to reassure its fanatical shareholders and respect the irrationality of the market. After the news was released, GME shares rose to $30.49 after rising 22.8% in intraday trading on Tuesday, and rose 1.21% in premarket trading.
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