Last week, Citron Research Managing Director Andrew Left decided to steep away from shorting GameStop after suffering backlash from Reddit-charged day-traders. Mr. Left predicted that the video game retailer’s stock price could crash “fast” to $20 per share.
Mr. Left decided that he will no longer comment on GameStop due o the reactions of “an angry mob” who are bullish on the stock. He said that he’d “never seen such an exchange of ideas of people so angry about someone joining the other side of a trade.”
Mr. Left decided to “walk away” from his bet against the stock because he felt that the safety of his family has been compromised.
Short-sellers lost $6 billion on GameStop
According to data from financial analytics firm S3 Partners, short-sellers collectively lost more than $6 billion on their bets against GameStop year-to-date. On Monday alone, short-sellers’ mark-to-market loss was $917 million.
