Citron's Andrew Left Likes Amazon, Says He's Long

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Andrew Left, founder of Citron Research, may have made an exception this time around. Deviating from his customary sell theme, Left recommended going long on Amazon.com, Inc. AMZN.

In a chat with Business Insider's Linette Lopez, Left called out a pair trade: selling Facebook Inc FB on uncertainties over what will befall Facebook when its sharing matures and buying Amazon as he sees long-term value.

In the current low interest rate environment, Left sees difficulty in finding shorts. Additionally, Left feels timing is important, as good shorts tend to have negative rebates.

With the U.S. Presidential election results now a foregone conclusion according to Left, he would be focused on whether the government is serious about regulation pricing on prescription pharmaceuticals and the companies levered to it and those which are vulnerable.

In May, Left went long on Valeant Pharmaceuticals Intl Inc VRX. However, the stock lost quarter of its value by mid-July, when Left divulged new short position in the company.

It was Left's accusations against Valeant of creating fraudulent invoices through a network of pharmacies it controls that brought the stock down with a thud in 2015. The report compiled by Citron Research compared Valeant to Enron, the energy-trading firm that collapsed in a 2001 accounting scandal.

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Posted In: Long IdeasShort SellersShort IdeasTrading IdeasAndrew LeftCitron Research
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