Price: $0.40009 3.4424%
Market Cap: 58.77B 1.7853%
Volume (24h): 12.31B 0.4%
Dominance: 1.7853%
Price: $0.40009 3.4424%
Market Cap: 58.77B 1.7853%
Volume (24h): 12.31B 0.4%
Dominance: 1.7853% 1.7853%
  • Price: $0.40009 3.4424%
  • Market Cap: 58.77B 1.7853%
  • Volume (24h): 12.31B 0.4%
  • Dominance: 1.7853% 1.7853%
  • Price: $0.40009 3.4424%
Home > Information news > Dogecoin (DOGE) Statement from Major Short Seller Company

Dogecoin (DOGE) Statement from Major Short Seller Company

Release: 2024/06/14 02:41 Reading: 793

Original author:Bitcoin Sistemi EN

Original source:https://coinmarketcap.com/community/articles/666b34ae08cc2761036d7328

Dogecoin (DOGE) Statement from Major Short Seller Company

Citron Research Ends GameStop Shorting Amid Market Irrationality

Citron Research, a prominent short-selling firm, has announced its withdrawal from shorting GameStop (GME). While acknowledging the company's weak fundamentals, Citron's decision is driven by an astute understanding of the market's unpredictable behavior.

In a statement, Citron explained, "We are no longer shorting GME, not because we anticipate an imminent turnaround, but rather because the company's $4 billion cash reserves provide sufficient flexibility to placate its devoted shareholders."

Recognizing the power of retail investors, Citron cited Dogecoin's $20 billion market capitalization as evidence of the market's irrationality. "Ultimately, Dogecoin remains a $20 billion asset," the firm noted.

Andrew Left, Citron Research's founder, initially re-established a short position in GameStop last week. However, the size of his position was notably smaller compared to his ill-fated 2021 shorting attempt, which ended due to a coordinated rally by individual investors united on online forums.

Disclaimer: This is not investment advice.

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