Spruce Point, Gotham City Back Short Selling as Citron Pulls Out
(Bloomberg) -- Spruce Point Capital and Gotham City Research touted short selling even as Citron Research said it will end its 20-year run of publishing short reports.
Spruce Point thanked Andrew Left, in a tweet, for his years of “leadership in the short-selling community.” On Friday, Citron Research founder Left said the firm’s narrative will change, pivoting focus to giving “long side multibagger opportunities for individual investors.”
Daniel Yu’s Gotham City Research LLC, while highlighting that short selling has always been a dangerous proposition, said there have been far worse times to get into “gentlemen short selling,” meaning shorting quietly.
Citron Capital, which generated a net return of 155% and a gross return of 202% in 2020, benefited from an “outsized long position” in Amazon.com Inc. Citron Research has recently projected Jumia Technologies and Star Peak Energy Transition Corp. to rise. Left says the firm will have its “first story ready on Monday.”
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