Market Overview

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

Share:
Citron Goes After Analytics Company Up 1,000% In A Month
Related HMNY
The Week Ahead: Q3 Earnings Season, Canada Decriminalizes Cannabis
Helios And Matheson Again Warns There's 'Substantial Doubt' It'll Be In Business Next Summer Without More Cash
New York State AG probes MoviePass owner (Seeking Alpha)

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

 

Related Articles (NFLX + HMNY)

View Comments and Join the Discussion!

How Often Is Your Stock Being Searched For Online?

Mid-Morning Market Update: Markets Mostly Flat; Delta Air Lines Earnings Top Views