Citron Research Posts On X "Citron is no longer short $GME. It's not because we believe in a turnaround for the company fundamentals will ever happen, but with $5 billion in the bank, they have enough runway to appease their cult like shareholders. Despite Wedbush setting an $11 target today, we respect the market's irrationality...."
Portfolio Pulse from Benzinga Newsdesk
Citron Research announced they are no longer shorting GameStop (GME), despite not believing in a fundamental turnaround for the company. They acknowledge GME's $5 billion in cash and the market's irrationality, even as Wedbush sets an $11 price target.
June 12, 2024 | 11:56 am
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Citron Research has stopped shorting GameStop (GME), acknowledging the company's $5 billion cash reserve and the market's irrational behavior. Despite Wedbush's $11 price target, Citron respects the market's sentiment.
Citron Research's decision to stop shorting GME could lead to a short-term positive impact on the stock price as it removes a bearish sentiment. The acknowledgment of GME's $5 billion cash reserve and the market's irrationality may also bolster investor confidence.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100