There’s a disingenuous take by Bloomberg in this article on the impact of the Andrew Left verdict on short sellers
The financial media knows, or should know, retail investors can’t/don’t move markets… yet here’s what is written…
“.. The rise of short squeeze campaigns by retail investors on social media forums has also added new threats.
Short sellers famously got pounded in early 2021, with Melvin Capital and Left’s firm, Citron Capital, on the losing end…”
Bloomberg also quotes an expert warning that if short sellers face too much legal heat, it could hurt “market efficiency.”
Question:
If there’s so much concern for market efficiency why doesn’t the financial media pick up on any of the real time examples @FlyEaglesFly529 and I post and ask…
How efficient is a market where one stock can trade a billion+ shares when the public float is only 1.2 million shares???
@Hamnakedshorts
📣📣NWBO LAWSUIT IS ALSO HIGHLY SIGNIFICANT EXPOSING MARKET MANIPULATION 🚨🚨
NWBO lawsuit is shining a big light on the nefarious actions of large firms like Citadel Securities, Susquehanna and Virtu Financial that target Companies and attack them relentlessly.
NWBO has made it to discovery abd the Cockroach Club are trying to give as little discovery as possible.
MARKET MAKERS ARE ACTUALLY MARKET MANIPULATORS‼️
What Impact Will Andrew Left’s Conviction Have?
"The conviction establishes precedent that social media commentary from influential investors may constitute criminal market manipulation," the financial intelligence firm Fazen Markets wrote in a report.
"Regulatory scrutiny will likely increase for prominent short sellers," it added. "
“Publicly traded companies targeted by activist short campaigns may experience reduced pressure as critics exercise more caution."
Here's exactly what Andrew Left and Citron did according to the trial verdict:
From 2018 to 2023, Left would quietly build positions in a stock using short-dated options, publish explosive Citron Research commentary to move the price, then immediately close his position at a profit before the stock hit his public target.
Total illegal profits: at least $21 million.
The Nvidia example from the trial:
Left messaged a hedge fund manager: "Do you want to make some fast money. Put together a thesis why NVDA is oversold. We can destroy it."
He then tweeted "Citron buys $NVDA" and set a $165 price target.
Less than 2 hours later, with the stock trading at $150, he sold everything.
Profit: $960,000. In under 2 hours.
Andrew Left (Citron) was heavily tied to cannabis. In 2018 he slammed Cronos Group $CRON with his report “The Dark Side of the Cannabis Space,” calling it “ALL HYPE,” tanking the stock ~30% in a day. Part of his broader scheme that just got him convicted.
$CGC $TLRY $MSOS
JUST IN: Citron Research founder and short seller Andrew Left found guilty of securities fraud.
Prosecutors say he illegally influenced share prices through tweets, making $20,000,000
📣📣CITADEL SECURITIES A REPEAT VIOLATION OFFENDER 🚨
Small fines for 5 years of crimes.
SEC fined Citadel Securities
7 Million for mismarking Millions of Short sale as long for half a decade 🤦♀️
Years of violations yet they are still allowed to be in business.
In South Korea Ken Griffin would be serving consecutive life sentences.
Reverse Split season has started! $MSOS
I guess $CGC is also preparing for uplisting... Oh no, they're already listed. Just getting ready for more dilution :)
🗞️ Verano Announces 1-for-5 Reverse Stock Split to Prepare the Company for Prospective U.S. Stock Exchange Listing
$VRNO @veranobrands
🔥-take: Reverse stock splits in anticipation of uplisting are on trend.
🌿 ETFs: 🌎 $YOLO 🇺🇸 $MSOS
https://t.co/s2ynR5nBGb