All articles tagged with #citron research
A federal grand jury convicted Andrew Left, founder of Citron Research and a prominent short-seller, of one count of participating in a securities-fraud scheme and 12 counts of securities fraud, related to his practice of posting sensational stock commentary to profit from price moves; sentencing is set for August 31, with a maximum penalty of 25 years in prison.
A grand jury convicted Andrew Left, the founder of Citron Research and a prominent short-seller, in a broad securities-fraud case, marking a major DOJ victory against market manipulation and deceptive practices in the financial markets.
A U.S. jury convicted Andrew Left, founder of Citron Research, of securities fraud and related counts after a trial alleging he manipulated markets and misled investors for profit; he was found guilty on a securities-fraud scheme and 12 of 16 counts, acquitted on four, and faces sentencing on August 31 as he vows to appeal.
Famed short-seller Andrew Left was found guilty on 13 of 17 counts in Los Angeles for running a securities-fraud scheme tied to explosive tweets and reports intended to move stock prices, with prosecutors saying he earned over $20 million from 2018–2023. He faces decades in prison at an August sentencing and has indicated an appeal; the verdict is seen as a potential chilling effect on aggressive short-selling practices.
Activist short-seller Andrew Left, founder of Citron Research, was found guilty on 13 counts of securities fraud in a U.S. trial, accused of profiting from a long-running market manipulation scheme by taking stock positions, publicly commenting to move prices, and then exiting, while concealing his own trading. He was acquitted on four counts and faces sentencing on August 31. The case could influence how influencer commentary on stocks is treated under securities laws and affect retail-investing discourse.
Famed short-seller Andrew Left was found guilty on 13 of 17 counts for using social-media posts to influence stocks, with prosecutors alleging he earned more than $20 million from related trades; Left testified in his defense, but jurors convicted him of running a securities-fraud scheme and acquitted on several counts, with sentencing set for Aug. 31 and Left to remain free until then. Analysts say the verdict could chill short-sellers by raising the risk of federal charges over public commentary and rapid trading around it.
A federal judge berated Andrew Left for being absent during jury deliberations in his securities-fraud trial, warning she would hold him in custody if it happens again; Left arrived late after jurors requested a read-back of testimony, and the judge ordered him to stay in the courthouse while deliberations continue.
In the Los Angeles securities-fraud trial of Andrew Left, a retired firefighter testified that he turned about $110,000 from his 401(k) into cannabis stock CV Sciences after watching Left’s coverage, which later caused the stock to fall; he sold at roughly an $80,000 loss and then put remaining funds into Namaste Technologies (now Lifeist Wellness), losing about 80% of that investment after Left publicly criticized the stock. Another retail investor testified that Left’s actions seemed dubious, while the defense argued Left’s reports were accurate. The trial is ongoing.
Citron Research founder Andrew Left is headed to a federal trial next month on securities-fraud charges alleging he manipulated stock prices to profit from moves in names like Tesla, Nvidia, and Meta; Left denies the accusations, says he may testify depending on his lawyers, and faces up to 25 years in prison if convicted.
Palantir's stock fell 2% after Citron Research expressed caution about its valuation, comparing it unfavorably to OpenAI and highlighting insider selling concerns, amid broader worries about AI market bubbles and competitive pressures.
Short-seller Andrew Left of Citron Research has criticized MicroStrategy, claiming its valuation is unsustainable and detached from Bitcoin's performance. Despite MicroStrategy's significant Bitcoin holdings, Left argues the company's market cap is overvalued, leading Citron to take a short position against it. MicroStrategy's stock dropped 16% following Citron's report, highlighting concerns over its strategy of leveraging Bitcoin investments.
MicroStrategy's stock plummeted 16% after Citron Research announced a short position against the company, which has heavily invested in Bitcoin. Despite Bitcoin's recent surge, Citron argues that MicroStrategy's stock is detached from Bitcoin fundamentals, especially with the availability of Bitcoin ETFs. This marks a significant downturn for MicroStrategy, which had seen its market value soar earlier in the year.
Citron Research has announced a short position in MicroStrategy, the largest corporate holder of bitcoin, citing a detachment from bitcoin fundamentals despite a recent surge in bitcoin prices. MicroStrategy's shares fell over 8% following the announcement, even as bitcoin prices approached $100,000 after Donald Trump's presidential election victory. Citron expressed respect for MicroStrategy's Executive Chairman Michael Saylor but suggested the company's stock is overheated. MicroStrategy has been actively raising capital to acquire more bitcoin, including a recent $2.6 billion debt offering.
MicroStrategy's stock dropped by up to 10% after Citron Research announced it is shorting the company, which has become heavily invested in Bitcoin. This decline reversed a previous 15% gain, although the stock had risen 650% earlier this year.
Citron Research founder Andrew Left is shorting GameStop again, despite a 100% loss in 2021, arguing the stock is overvalued. Left, who has profited from shorting other companies, recently made a profit on a GameStop short and is now doubling down after a social media post by trader Keith Gill. He acknowledges the risks of shorting "cult" stocks and has limited his exposure this time.