Just when you think Citron is out of the shorting game, the market pulls them back in.
It was hard to believe they would ever truly be done. We’ve witnessed what happens to many a trader during their careers, illogical price action causing you to question and doubt your strategy.
Citron bowed out when it seemed nothing could bring a stock down, even the most speculative names, aggressive valuations, or fundamentally flawed companies. Calling out a short only fueled speculators to buy more and cry defiance.
But that market is gone, at least for now, and we have one struggling to find footing. We have a market ripe again for short calls because bullish confidence is tattered.
So, is Scorpion wrong or is Citron wrong? Ironically, they appear to agree but don’t really agree. A scam is a scam. A legal scheme is a legal scheme. A scam is illegal. Fraudulent. A legal scheme is not.
Citron somewhat invalidates Scorpion’s report when you think about it. And some of the things pointed to in the report discuss related entities, which DNA fully discloses and often discusses. And another bearish argument centers around money being made related to COVID. So, does that revenue not count? Does it not show how DNA…