Tag: Citron

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Article: Short Seller Soren Aandahl Chases Targets With New Hedge Fund

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Short Seller Soren Aandahl Chases Targets With New Hedge Fund

Sofia Horta e Costa, 03 May 2021

Activist short seller Soren Aandahl is launching his first hedge fund, with a mandate to find accounting malpractice and overvalued stocks all over the world.

The Blue Orca Global Activism Fund starts trading Monday with $25 million in assets under management, according to Aandahl, who founded Blue Orca Capital three years ago in Austin, Texas. He says he’s lining up another potential $30 million in committed capital. The fund will pursue targets globally, using a market-neutral strategy to seek profits regardless of whether global stocks are in a downturn or uptrend, said Aandahl. Continue reading “Article: Short Seller Soren Aandahl Chases Targets With New Hedge Fund”

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Article: Why Nano-X Imaging Stock Continues to Surge

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Why Nano-X Imaging Stock Continues to Surge

Rich Smith, 02 December 2020

Shares of Nano-X Imaging (NASDAQ: NNOX), the Israeli X-ray machine maker with the novel business idea of giving its products away for free (and then taking a cut of the revenue when doctors use the machines to take X-rays), is back in investors’ favor again. Over the past 10 days, shares of Nano-X have surged 79% — including a big 7% jump today as of 2:20 p.m. EST.

Why is Nano-X doing so well today? To learn the answer, you first have to go back in time a couple of months to mid-September, when Citron Research published a report branding Nano-X as “Theranos 2.0” and a company that not only “has never published any data showing their machine’s images compared to images from a standard CT scanner,” but has actually never even showed investors that it has a machine at all.

These and similar accusations from the short-seller devastated Nano-X’s stock over the summer, but on Thursday starting at 11:30 a.m. EST, Nano-X will attempt to refute all of the above by hosting “a live demonstration that will showcase the Nanox digital x-ray source tube and a range of 2D and 3D imaging applications performed by the Nanox.ARC at the 2020 Radiology Society of North America Virtual Annual Meeting.”

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Article: NAMASTE: CITRON HAS EXPOSED COMPLETE FRAUD THAT UNDERPINS THE ‘BUSINESS’ OF NAMASTE.

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NAMASTE: CITRON HAS EXPOSED COMPLETE FRAUD THAT UNDERPINS THE ‘BUSINESS’ OF NAMASTE.

Citron Research, 04 October 2020

Let us start by explaining to readers that in our 17 years of publishing, Citron has exposed more corporate fraud than any non-government agency in the world. Rarely in its history has Citron seen a fraud so blatant: for context, we honestly view Sean Dollinger as a walking securities violation. If Namaste was a US traded company it would be halted and Dollinger would probably face criminal charges. Citron hopes that in the best interest of protecting investors, the TSXV halts trading until questions can be answered relating to direct fraud that is illustrated in this report. This will most certainly reach the hands of Namaste’s new auditors (which have joined at an odd time).
Continue reading “Article: NAMASTE: CITRON HAS EXPOSED COMPLETE FRAUD THAT UNDERPINS THE ‘BUSINESS’ OF NAMASTE.”

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Article: Short-seller Muddy Waters takes aim at Nano-X Imaging after Citron

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Short-seller Muddy Waters takes aim at Nano-X Imaging after Citron

Manas Mishra, 22 September 2021

(Reuters) – U.S.-listed shares of Israel’s Nano-X Imaging Ltd NNOX.O fell nearly 20% on Tuesday after short-seller Muddy Waters joined Citron Research in raising doubts over the company’s diagnostic product.

Muddy Waters likened the company to Nikola Corp NKLA.O, whose founder Trevor Milton stepped down on Monday amid scathing reports from short-sellers.

“We conclude that NNOX (Nano-X) has no real product to sell other than its stock,” Muddy Waters said in a report on Tuesday.

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Article: Investor Alert: Kaplan Fox Investigates Nano-X Imaging For Potential Securities Fraud

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Investor Alert: Kaplan Fox Investigates Nano-X Imaging For Potential Securities Fraud

PRNewswire, 18 September 2020

Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of Nano-X Imaging Ltd. (“Nano-X” or the “Company”) (NASDAQ: NNOX). A complaint has been filed on behalf of investors who purchased the publicly traded securities of Nano-X between August 21, 2020 and September 15, 2020, inclusive (the “Class Period”).

According to the complaint, Nano-X’s securities began trading on the NASDAQ on August 21, 2020. Continue reading “Article: Investor Alert: Kaplan Fox Investigates Nano-X Imaging For Potential Securities Fraud”

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Article: Who Needs New Year’s Resolutions After 43% Returns? Andrew Left Does.

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Who Needs New Year’s Resolutions After 43%
Returns? Andrew Left Does.

Alicia McElhaney, 07 January 2020

In 2019, short-seller Andrew Left’s Citron Capital returned a searing 43.3 percent, net of fees. But instead of wallowing in glory, Left plans to make some changes to his investment style in 2020. Foremost, Left intends to zero in on small-cap stocks rather than betting on (or against) major names like Shopify and Tesla, he told Institutional Investor Tuesday.

“My job is not to be right; my job is to generate returns,” Left said. “I’m not doing that by shorting high-concept big stocks.” Left shared the firm’s 2019 performance in an investor letter Monday, where he also reflected on recent big bets and what’s ahead. He learned two major lessons in 2019, according to the letter. The first: “Always go back to Citron’s proficiency – exposing fraud.”
Continue reading “Article: Who Needs New Year’s Resolutions After 43% Returns? Andrew Left Does.”

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Article: Shopify’s (SHOP) Stock Price Soars As Short Seller Throws in the Towel

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Shopify’s (SHOP) Stock Price Soars As Short Seller Throws in the Towel

Mat Litalien, 11 January 2020

Since going public, Shopify (TSX:SHOP)(NYSE:SHOP) has been one of Canada’s most prolific stocks. Shareholders who were lucky enough to get in on the company at its IPO price would be sitting on gains in excess of 1,450%! One of the downsides of being an industry disruptor and one of the top performers as that there will always be skeptics.

In the markets, these skeptics take many forms, but one of the most polarizing is the short seller, which is a bearish investors who makes significant bets against the company. In extreme cases, a short seller will spend considerable time and effort trying to market their bearish outlook to the masses. In Shopify’s case, it was attacked repeatedly by notable short seller Andrew Left, Managing Partner at Citron Research. Citron is known for making big marketing splashes.
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Article: Bausch Health jumps after short seller says stock could double

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Bausch Health jumps after short seller says stock could double

Cristin Flanagan, 15 October 2019

Shares of Bausch Health Cos. jumped as much as 5.5 per cent intraday after a short-seller changed his tune and said the stock could nearly double. Also, Bausch shed another bear as Wells Fargo realigned its coverage. Andrew Left’s Citron Research set a price target of US$40, more than 80 per cent above current trading. The report comes more than four years after the short-seller’s 2015 call, when Left accused Bausch, then known as Valeant Pharmaceuticals, of being “Enron part deux.”

Bausch shares have come down more than 90 per cent from 2015. The stock “still trades with a ‘Valeant discount’ despite new management’s 180-degree turn,” the Citron report said. Bausch’s Nov. 4 earnings may be when Wall Street finally takes notice, it added.
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Article: Citron Calls Bausch Health — Formerly Valeant — The ‘Textbook Turnaround’

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Citron Calls Bausch Health — Formerly Valeant — The ‘Textbook Turnaround’

Wayne Duggan, 15 October 2019

Three years after Citron Research called Valeant the “pharmaceutical Enron,” the firm said Tuesday that it’s time to give Valeant successor Bausch Health Companies Inc BHC 0.06% the credit it is due for its rebranding and turnaround efforts.

On Tuesday, Citron Research’s Andrew Left said CEO Joe Papa has done a spectacular job since taking over less than four years ago. In the past three years alone, management has paid down about $8 billion in debt, vastly improving the company’s balance sheet and putting them in a position of financial flexibility.

“In 2019, the debt has become manageable and the company is gaining momentum with recent, successful launches of new drugs, consistent with its ‘pivot to offense,’” Left said.
Continue reading “Article: Citron Calls Bausch Health — Formerly Valeant — The ‘Textbook Turnaround’”

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Article: BAUSCH HEALTH – THE TEXTBOOK TURNAROUND Giving Credit Where Credit is Due – Target Price $40

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BAUSCH HEALTH – THE TEXTBOOK TURNAROUND Giving Credit Where Credit is Due – Target Price $40

Citron Research, 15 October 2019

It was four years ago this month that Citron wrote a series of articles that were instrumental in the unraveling of the Pearson-era Valeant business model. In quick manner the stock has declined by 90% from its highs as the scandals unraveled and many questioned the sustainability of the equity.

Four years later BHC still trades with a “Valeant discount” despite new management’s 180-degree turn of corporate culture. To add to the artificially depressed share price, Bausch has been unjustly grouped with Specialty Pharma despite having ZERO opioid exposure and minimal exposure to the generics market.

Citron believes this quarter (reporting on Nov 4) will force Wall St. to finally take notice of BHC’s “pivot to offense”. Once this is considered along with the acknowledgment of the recent M&A spree in pharma, even David Maris will have to admit that BHC is on its way to $40.
Continue reading “Article: BAUSCH HEALTH – THE TEXTBOOK TURNAROUND Giving Credit Where Credit is Due – Target Price $40”

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Article: Silver Law Group Investigating Village Farms International, Inc. (VFF) For Potential Securities Laws Violations

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Silver Law Group Investigating Village Farms International, Inc. (VFF) For Potential Securities Laws Violations

Silver Law Group, 07 May 2019

Village Farms International, Inc. (VFF), a publicly-traded vertically-integrated greenhouse grower of produce and cannabis, is being investigated by Silver Law Group concerning potential securities laws violations as well as violations by the selling stockbrokers. If you are an investor and have suffered a loss with this company, you may be able to recover some of your losses. Already publicly-traded in Canada, Village Farms started trading on the Nasdaq under the symbol “VFF” in February, 2019.

On April 16, 2019, Citron Research released a report that stated that the SEC should investigate Village Farms. The report alleged that when Village Farms entered into a joint venture with Emerald Health Therapeutics and Pure Sunfarms to get into the cannabis market, it “moved to the dark side by partnering with shady stock promoters that have a track record of failed businesses and [joint ventures] while insiders at both Village Farms and Emerald Health have dumped stock.”
Continue reading “Article: Silver Law Group Investigating Village Farms International, Inc. (VFF) For Potential Securities Laws Violations”

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Article: Village Farms International Inc (TSX:VFF): This Famous Investor Thinks it’s a Giant Fraud

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Village Farms International Inc (TSX:VFF): This Famous Investor Thinks it’s a Giant Fraud

Ryan Vanzo, 23 April 2019

Village Farms International (TSX:VFF)(NASDAQ:VFF) stock is riding high from all the cannabis hype. Since 2019 began, shares have exploded higher by more than 300%. The run could be over, however. At least that’s what one famous investor is saying. While you may not have heard of Andrew Left, he is one of the most respected short-sellers today. His firm Citron Research has uncovered countless frauds and scams, profiting handsomely after the stocks take a dip. Recently, Left has set his targets on Village Farms. Here’s what he discovered.
Continue reading “Article: Village Farms International Inc (TSX:VFF): This Famous Investor Thinks it’s a Giant Fraud”

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Article: RM LAW Announces an Investigation of Village Farms International, Inc.

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RM LAW Announces an Investigation of Village Farms International, Inc.

PRNewswire, 16 April 2019

RM LAW, P.C. announces an investigation on behalf of Village Farms International, Inc. (NASDAQ: VFF) (“Village Farms” or the “Company”) investors concerning the Company and its officers’ possible violations of federal securities laws. On April 16, 2019, Citron Research published a report titled “Citron presents the Red Flag Why the SEC should investigate Village Farms – Price Target $1”. Following the release of this report, Village Farms’ shares dropped more than 10%.
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Article: Village Farms Investigated by Block & Leviton LLP For Violations of Federal Securities Laws

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Village Farms Investigated by Block & Leviton LLP For Violations of Federal Securities Laws

GLOBE NEWSWIRE, 16 April 2019

Block & Leviton LLP (www.blockesq.com), a securities litigation firm representing investors nationwide, is investigating whether Village Farms International, Inc. (“Village Farms” or the “Company”) (NASDAQ: VFF) and certain of its officers and directors violated federal securities laws. On April 16, 2019, Citron Research published a report titled “Citron presents the Red Flag Why the SEC should investigate Village Farms – Price Target $1”. Following the release of this report, Village Farms’ shares dropped more than 15%. Block & Leviton LLP was recently ranked 4th among securities litigation firms by ISS for recoveries in 2017. The firm represents many of the nation’s largest institutional investors and numerous individual investors in securities litigation throughout the country. Indeed, its lawyers have recovered billions of dollars for its clients.
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Article: Shopify Shares Fall Fast Following Report From Short Seller

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Shopify Shares Fall Fast Following Report From Short Seller

KEVIN CURRAN, 04 April 2019

Shares fell over 3% after the report’s release, cutting into the Canadian e-commerce company’s 50% gain to kick off 2019. “I still think they are best in class,” Andrew Left, Citron Research’s executive editor, acknowledged in an interview with Real Money. “It’s just that when you have a PE ratio over 300, its being priced like nothing bad can happen.”

He cited the emergence of competition from Square’s (SQ) online store, Facebook’s (FB) Instagram checkout, and the rumored launch of a Microsoft’s (MSFT) shopping competitor, as indicators that could deflate the stock. “This is a company that is priced for hyper growth. If they lose 15% of their base, their multiple is going to get smacked,” Left commented.
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