Short Seller Citron Closes Short Position In GameStop, Says 'It Respects Market's Irrationality'
Portfolio Pulse from Anusuya Lahiri
Citron Research has closed its short position in GameStop (NYSE:GME), citing respect for the market's irrationality despite not being bullish on the company's fundamentals. GameStop's stock surged by 22.80% following the news. The company has a strong cash position and has raised significant capital through share sales, although concerns remain about its revenue growth strategies.
June 12, 2024 | 1:45 pm
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Citron Research has closed its short position in GameStop, leading to a 22.80% surge in the stock price. Despite not being bullish on the company's fundamentals, GameStop's strong cash position and recent capital raises have impressed investors.
The closure of Citron's short position has led to a significant increase in GameStop's stock price. Investors are impressed by the company's strong cash position and recent capital raises, despite concerns about its revenue growth strategies.
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