Market Overview

Citron Goes After Analytics Company Up 1,000% In A Month

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Citron Goes After Analytics Company Up 1,000% In A Month

After trading up 25 percent Tuesday in its fourth consecutive daily rally, Helios and Matheson Analytics Inc (NASDAQ: HMNY) took an abrupt $5 plunge Wednesday off a tweet by short-seller Andrew Left.

CNBC’s Jim Cramer quickly responded to the Citron tweet that “a squeeze is a squeeze by any name.”

See Also: Helios And Matheson's Stake In MoviePass Is Paying Off

Prior to the drop, Helios had risen 1,103 percent month-over-month, catalyzed by Sept. 14 reports of significant MoviePass subscription growth. The stock had popped 140 percent since Oct. 5, when Netflix, Inc. (NASDAQ: NFLX) announced impending price hikes.

At time of publication, Helios was continuing downward but remained up 6 percent off the open at a price of $29.74 per share.

Citron’s price target implies 40-percent downside which, if the “Left effect” holds, may yet actualize. Left recently made a similar call on Shopify Inc (US)(NYSE: SHOP), which abruptly stopped a 30-percent runup and has since fallen 20 percent.

Update, Oct. 12: At 2:39 p.m. ET, Citron covered its short.

Posted-In: Andrew Left Citron ResearchNews Short Sellers Short Ideas Top Stories Movers Trading Ideas Best of Benzinga

 

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