Shopify dives after short-seller Andrew Left of Citron Research shorts the e-commerce stock
Ellen Kelleher
Proactive Investors, 4 April 2019
Citron’s short position stems from a ‘perfect storm’ of business setbacks that will knock Shopify ‘off its high wire to $100 in the next 12 months’
Shares of Shopify Inc (NYSE:SHOP) tumbled Thursday after famed short-seller Andrew Left of Citron Research went bearish and urged investors to short the Canadian e-commerce company.
In a research note, Left and his team make the case that their newly-adopted short position stems from a “perfect storm” of business setbacks that will knock Shopify “off its high wire to $100 in the next 12 months.”