Short selling company, Citron Research, recently made a surprising announcement regarding Dogecoin (DOGE). Known for their market maneuvers, the company stated that they will no longer short GameStop (GME), not due to any change in the company’s fundamentals, but out of respect for the market’s irrationality.
In a statement, Citron Research explained that despite setting a target of $11 for GameStop, they recognized the unpredictable nature of the market. They emphasized that Dogecoin remains a $20 billion asset, highlighting the volatile nature of the market.
Founder of Citron Research, Andrew Left, disclosed that he had initiated a short position on GameStop last week, with a significantly larger stake compared to 2021. This move comes after the infamous rally led by individual investors in online forums that caused hedge funds to suffer losses.
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