Noted short seller Andrew Left is changing the focus of Citron Research, the company he founded 20 years ago.
What Happened: Citron Research has changed its focus to providing long candidates instead of short reports.
Left has since closed his position in GameStop.
“I started Citron with the intention of protecting the individual against Wall Street,” Left said in a video.
He stands behind the company’s record of naming companies that were overvalued and had red flags and is proud of the work Citron did.
“We uncovered more fraud than any non-government agency out there.”
Over the years, Left noticed Citron had become the establishment that he was once fighting against.
“Citron Research will no longer be publishing short reports.”
What’s Next: Instead of short reports, Left turns his focus to giving investors potential multibagger opportunities hoping for stocks that can rise 5 times or 10 times in the future.
Citron’s long stock recommendations were up 121% in 2020, something Left says is being overlooked with all the focus on the short reports.
The company will release a new report on Monday highlighting a company that's a long candidate. Citron is looking for candidates that have strong management teams and are forward thinking.
Price Action: Shares of GameStop are up 83% to $353.45 in premarket trading Friday. Shares of GameStop were at $42 when Left appeared live with Benzinga.
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