Citron Research, one of the most prominent GameStop short sellers, is no longer short on GameStop (GME) stock.
The popular short seller closed its GME short position concerning “the market’s irrationality” and “cult-like” shareholder behavior, Citron Research announced in a June 12 X post:
“Citron is no longer short $GME. It's not because we believe in a turnaround for the company fundamentals will ever happen, but with $5 billion in the bank, they have enough runway to appease their cult-like shareholders.”
The announcement comes shortly after GME stock price rose above the $30 mark, following a 22.8% intraday rally on Tuesday. GME is currently trading at $30.49, up 3.3% in pre-market trading, according to Google Finance data.
