GameStop (GME) shares are climbing after “Roaring Kitty,” best known for the 2021 short squeeze, posted a screenshot to Reddit showing a nearly $175 million position in the meme stock. Citron Research Founder Andrew Left joins industry Domination Overtime to discuss why he is re-shorting the stock after being burned by the 2021 rally.
Left says that today’s rally is “totally different” from what happened in 2021, adding, “I personally do not believe this is his own personal money.” He explains that Roaring Kitty’s position is an exorbitant amount of money, and he doubts he put his entire net worth on the trade.
“What he’s doing right now is trying to take advantage of the retail traders, the same people that he was supposed to represent three and a half years ago,” Left says, noting that he decided to short the stock because of its short loan charge and its capital structure changing from 2021. He explains, “I just hope the retail investors realize right now that this is not what we saw three and a half years ago.”
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