Market Overview

Citron Negative On Great Northern Iron (GNI)

Citron Research is out with a research report on Great Northern Iron. (NYSE: GNI) saying that the company is literally going to die, once all of its heirs have died.

The last heir died on April 6, 1995, so April 6, 2015, the stock will simply cease to exist, according to Citron.

Here is an SEC filing talking about the cease and desist. It's been mentioned in every report filed, but apparently Wall Street missed this one.

Citron has a liquidation value of the company at $8.53, yet the stock is currently trading at $132 per share.

Shares of GNI are currently losing $8.95 per share on this news.

Posted-In: Citron ResearchShort Ideas Trading Ideas

 

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