Citron

GameStop

Roaring Kitty

<p>The GameStop frenzy has kicked in once again on Wall Street with <a href="https://coingape.com/gamestop-jumps-300-as-roaring-kitty-takes-huge-gme-call-options/" target="_blank" rel="noopener">Roaring Kitty</a> making a big entry on social media yesterday. Interestingly, Citron Research is once again building up short positions, despite getting heavily squeezed during the GameStop (NYSE: GME) rally in 2021.</p> 
<h3 id="citron-research-founder-andrew-left-building-gamestop-shorts">Citron Research founder Andrew Left Building GameStop Shorts</h3> 
<p>Andrew Left, the founder of Citron Research, has initiated a new short position against GameStop Corp. after the video-game retailer’s stock price surged by as much as 75% on Monday. The spike followed Keith Gill, a prominent investor and meme stock influencer known as DeepF—ing Value on Reddit, revealing a stake of five million GameStop shares.</p> 
<p>In May, Left had also announced a short position in the company’s shares. “I have covered my short from May and then re-shorted it today,” Left said in an <a rel="nofollow" href="https://www.bloomberg.com/news/articles/2024-06-03/andrew-left-burned-in-2021-meme-mania-is-short-gamestop-again" target="_blank">interview</a> with Bloomberg, noting that the new position is smaller than his previous ones, though he did not disclose its size.</p> 
<p>GameStop’s early trading leap added approximately $6 billion to its market capitalization, triggering a trading halt due to volatility. Despite paring back some of the gains after trading resumed, the stock remained up over 30% by early afternoon on Monday.</p> 
<h3 id="meme-stocks-frenzy-to-continue">Meme Stocks Frenzy To Continue?</h3> 
<p>Meme stocks have captivated the stock market once again, driven by the return of <a href="https://coingape.com/news/stocks/roaring-kitty-faces-etrade-ban-over-gamestop-manipulation/" target="_blank" rel="noopener">Keith Gill, known as “Roaring Kitty”</a> on X, to social media. Gill, who gained fame in 2021 for rallying retail traders on Reddit, sparked the latest trading frenzy with a June 2 post about the beleaguered video game retailer. “He might as well be a hedge fund manager,” said Andrew Left, founder of Citron Research.</p> 
<p>Left previously faced significant losses during the earlier meme stock saga due to his bearish bet on GameStop. Additionally, Citron Research has been embroiled in a U.S. Justice Department investigation into short selling by hedge funds and research firms.</p> 
<p>The GameStop ($GME) meme coin is trading down by 6% as of press time, while the GME stock ended up Monday’s trading session with 21% gains at $28.00.</p> 
<p>The post <a href="https://coingape.com/citron-research-is-shorting-gamestop-again-will-it-win-this-time/">Citron Research Is Shorting GameStop Again, Will It Win This Time?</a> appeared first on <a href="https://coingape.com">CoinGape</a>.</p>

Citron Research Is Shorting GameStop Again, Will It Win This Time?

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