Short-seller Citron Research suspended a livestream event meant to explain its position on GameStop on Thursday, saying there were many attempts made to hack its Twitter account.
“Too many people hacking Citron twitter, will record and post later today,” the account tweeted on Thursday. “$GME going to $20 buy at your own risk.”
Andrew Left, Citron’s managing partner, told Bloomberg in an interview that Twitter alerted him of someone trying to change his password. Twitter locked Citron’s account as a safeguard and coordinated with the owner to restore it.
The renowned short-seller was scheduled to highlight reasons to sell the gaming retailer’s stock in a livestream event on the same day. “Citron will livestream the 5 reasons GameStop buyers at these levels are the suckers at this poker game,” the account tweeted earlier. “Stock back to $20 fast. We understand short interest better than you and will explain.”
Shares in GameStop rose as much as 9% in mid-day trading as the planned livestream was cancelled.
Citron later posted a YouTube video, highlighting the downside potential for GameStop. “I’ve never seen such an exchange of ideas of people so angry about someone joining the other side of a trade,” Left said in the video. He went on to state that the retailer’s sales numbers don’t lie, indicating that its valuation is too high.
The trader expects GameStop to go back to $20 after consecutive gains following an update to its board of directors sent its shares 93% higher.
GameStop closed at $43.03 on Thursday, up roughly 140% year-to-date.
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