Citron’s Left is still short GameStop even as stock bounds higher

FILE PHOTO: Andrew Left, the founder of Citron Research, speaks during the Reuters Global Investment 2019 Outlook Summit, in New York, U.S., November 12, 2018. REUTERS/Brendan McDermid/File Photo

BOSTON (Reuters) – Investor Andrew Left, who has built a reputation by targeting companies he thinks are over-valued, is as convinced as ever that video retailer GameStop is a dying business whose stock price will fall sharply, some day.

“If I had never been involved in GameStop and came to this right now, would I still be short this stock? 100 percent,” Left, who runs Citron Research and a hedge fund, told Reuters on Tuesday. “This is an old school, failing mall-based video retailer and investors can’t change the perception of that.”

Gamestop did not immediately respond to a Reuters request for comment.

Shares of videogame retailer GameStop GME.N jumped 22% on Tuesday after surging 144% a day earlier, as individual investors again piled into a number of niche stocks, prompting short sellers to scramble to cover losing bets.

Left shorted the company’s stock when it traded around $40 a share and forecast publicly that it would tumble to $20 a share. He said on Tuesday that he is still short the stock.

Reporting by Svea Herbst-Bayliss; editing by Megan Davies and Chizu Nomiyama

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