Short-seller Andrew Left’s Citron Research says surge in cannabis company Tilray is ‘beyond comprehension’
Lenore Fedow, 19 September 2018
Tilray Inc (NASDAQ:TLRY) set the cannabis space ablaze following an interview with CNBC’s Jim Cramer, sending its shares surging double digits. But short-seller Andrew Left’s Citron Research had some harsh words to share about the Canadian cannabis company.
Citron Research was previously bullish on Tilray following Constellation Brands Inc‘s (NYSE:STZ) additional US$4bn investment in its rival Canopy Growth Inc (NYSE:CGC, TSX:WEED). Left had said it could be the next marijuana company to get a “white knight at a premium to market.”
The short-seller has cast doubt on other cannabis stocks via Twitter Inc (NYSE:TWTR) as well, including Cronos Group Inc (NASDAQ:CRON, CSE:CRON) and Namaste Technologies Inc (CVE:N, OTCQB:NXTTF). Shares of Tilray soared nearly 50% to US$232 in Wednesday pre-market trading.
Continue reading “Article: Short-seller Andrew Left’s Citron Research says surge in cannabis company Tilray is ‘beyond comprehension’”
Cronos Group, Analyst Respond To Citron’s Short Report
Wayne Duggan, 31 August 2018
Citron’s Andrew Left said Thursday morning that Cronos’ agreements are so small that they wouldn’t even come close to justifying the huge gains in the company’s market cap. Left said Cronos lags its Canadian cannabis peers in sales, trades at a steep premium to Canopy Growth Corp CGC 0.42% (which has a beverage deal in place), has a history of product recalls, has no U.S. business and is spending practically nothing on research and development.
“When looking at Cronos relative to other cannabis stocks that have yet to receive a ‘beverage deal,’ Cronos’ sky high valuation looks completely out of whack with fundamentals,” Left said.
Continue reading “Article: Cronos Group, Analyst Respond To Citron’s Short Report”
Cronos Group besieged by short-seller Andrew Left’s Citron Research, shares fall and end sharply up Friday
Ellen Kelleher, 31 August 2018
Shares in the Canadian cannabis group Cronos Group Inc (NASDAQ:CRON) have taken a tumble after the infamous short seller Andrew Left’s firm Citron Research delivered a pessimistic call on the stock. In a note to investors and via its Twitter feed, Citron Research charged that Cronos is the “most overhyped” of all the pot stocks and set a price target of US$3.50 on the Ontario-based company.
The stock fell by 28.4% to US$9.12 in Thursday’s after-hours session. Those losses were extended early on Friday when Cronos stock on the Nasdaq in New York slid another 4.5% to trade at US$8.70 in premarket business. But just as quickly, the stock reversed when trading got going on Friday. Shares climbed to a session peak of US$10.29 before ending 8.33% higher at US$9.88. The share rose 0.4% in after hours trade on Friday to US$9.92. In two days of trading, the stock had swung wildly from its lows to its highs.
Continue reading “Article: Cronos Group besieged by short-seller Andrew Left’s Citron Research, shares fall and end sharply up Friday”
This small online retail stock will plunge if Facebook takes its data ‘punch bowl’ away, says short-seller Andrew Left
Thomas Franck, 26 March 2018
Citron Research’s Andrew Left, who’s gained notoriety for successful bets against companies such as Valeant Pharmaceuticals, on Monday posted a new bearish report on Shopify. Shares of Shopify fell more than 3 percent after Left disparaged the relationship between Shopify and Facebook as an “unholy alliance,” based on the exchange of personal information collected by Facebook and sold to Shopify “entrepreneurs.”
Founded in 2004, Shopify’s software helps merchants run their businesses across a variety of platforms, including web, social media storefronts, and brick-and-mortar pop-up shops. It assists merchants in managing products, processing orders and analyzing customer trends.
Continue reading “Article: This small online retail stock will plunge if Facebook takes its data ‘punch bowl’ away, says short-seller Andrew Left”
Citron Slams Aurora Cannabis; Company Says It Won’t ‘Lose Any Sleep On Amateurish Attack’
Benzinga, 03 January 2018
After a 545-percent run the last three months, AURORA CANNABIS IN (OTC:ACBFF) is running on fumes, according to Citron Research. Short-seller Andrew Left warned investors in a Wednesday short thesis that the $10.80 stock is likely to concede 50 percent “when sanity sets in.”
“You must be high to be buying Aurora, which sports Enron type accounting and is the weakest player in the space,” Left tweeted at 12:39 p.m. ET. Aurora Cannabis announced Tuesday it sold cannabis worth $2.5 million in November, its highest ever. By Left’s assessment, the firm has no path to profitability even without the burden of taxes and distribution, and its financing structure betrays weakness in the underlying business model.
Continue reading “Article: Citron Slams Aurora Cannabis; Company Says It Won’t ‘Lose Any Sleep On Amateurish Attack’”
Short seller Andrew Left says he’s found a ‘business dirtier than Herbalife’
Joe Ciolli, 04 October 2017
Andrew Left is back at it again. The Citron Research founder tweeted on Wednesday that the Canadian e-commerce company Shopify was a “business dirtier than Herbalife.” He also posted a seven-minute YouTube video outlining his bear case, titled “Citron Exposes the Dark Side of Shopify — The FTC Will Take Notice,” and posted a report to his firm’s website.
In the video, Left lays out the big question he has around the company: Outside the roughly 50,000 verifiable merchants working with Shopify, who are the other 450,000 the company says it has? According to Left, many of them are, among other things, influencers paid to promote the company.
Continue reading “Article: Short seller Andrew Left says he’s found a ‘business dirtier than Herbalife’”
Citron Research “Exposes” Exact Sciences – Short Term Target $20
ValueWalk.com, 15 May 2017
Citron Research exposes Exact Sciences and PROVES beyond ANY doubt why this stock will soon be cut in half – so says a new reprot from Citron Research – Citron founder Andrew Left battled the CEO of Exact on CNBC on that topic for CNBC pro sub subscribers you can find that video here
Comment: Knocked stock down from $30 to $22. They needed to cover, stock then went to $125.