Andrew Left to end commentary on GameStop short call after ‘angry mob’ harassment

• Notorious short seller Andrew Left of Citron Research will no longer release his bearish commentary on GameStop after he and his family were harassed by an “angry mob” of GameStop investors, according to a letter from Left.
• Left had explained why GameStop shares are expected to drop about 50% from its current levels at $ 20 in a video posted to YouTube on Thursday.
• “It’s not just about name calling and computer hacking, but includes serious crimes such as the harassment of underage children,” Left said.
• Sign up here for our daily newsletter, 10 things before the opening bell.

---

Citron Research’s Andrew Left Ends Bearish Commentary On GameStop After Saying An “Angry Mob” Of Investors Has Harassed Him And His Family For The Past 48 Hours, According To a letter from Left posted on Twitter on Friday.

GameStop shares have staged a gravity-defying rally in recent weeks, with shares rising 307% year-to-date based on Friday’s intraday high of $ 76.76.

But Left thinks the GameStop hype is overblown and in a video posted to YouTube on Thursday, describes why the shares should trade at $ 20, which represents a potential downside of around 50% from Thursday’s close.

Left is in a fierce battle between a new class of retail investors who have flooded the stock market since the COVID-19 pandemic began last March. These investors have proliferated on forums like Reddit’s WallStreetBets, which likely helped set up a rally of more than 78% of stocks on Friday.

Read more: ‘Extremes are getting more and more extreme’: Wall Street strategist who sounded the alarm before last year’s 35% crash shows evidence that a similar crisis is looming

“What Citron has gone through in the past 48 hours is nothing short of shameful and a sad commentary on the state of the investment community,” Left opened with. Left posted his letter on a new Twitter account, @ CitronResearch2, because “Twitter works through multiple hacking attempts,” Left said.

Left added that he would no longer comment on GameStop, not because of a change in his investment thesis on the company, but because an “angry mob that owns this stock has passed the last 48. hours committing multiple crimes, ”Left said. .

The left will turn over evidence to the FBI and the SEC, according to the letter, adding that the harassment it has received is not only name calling and hacking “but includes serious crimes such as harassment of underage children.” , according to the letter.

“We are investors who put safety and family first and when we believe that has been compromised, it is our job to step away from a stock,” Left said, concluding his letter with “The family first “.

See the full letter below.