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Citron's entire business is shorting investments and then trying to cause a panic with negative PR to move the market in their favor. It is shocking that what t
by chipgap98 9y ago
Citron's entire business is shorting investments and then trying to cause a panic with negative PR to move the market in their favor. It is shocking that what they do is legal.
This doesn't mean they are wrong here, but I wouldn't describe them as a trusted source either.
- lojack 9y ago> It is shocking that what they do is legal. What is legal about it? Buying a stock and releasing positive PR sounds a lot like pump and dump which is illegal. Is it just the fact that they are shorting the stock that makes what they're doing legal?
- frgtpsswrdlame 9y agoHe's not shorting it, he's just arbitraging GBTC vs. the bitcoin futures. The Bitcoin Investment Trust, a publicly traded vehicle whose bitcoin holdings are worth $1,601 a share, nonetheless trades at a price more than double that amount, according to data compiled by Bloomberg. A savvy trader could in theory mint money by betting that gap will shrink. Futures contracts introduced over the past week by Cboe Global Markets Inc. and CME Group Inc. provides a way to do that: Buy the futures, short sell the Bitcoin Investment Trust.
- travmatt 9y agoWhy should it be illegal? Muddy Waters regularly exposes fraudulent companies by finding fraud, taking a position, exposing said fraud, then profiting from the correction. I understand that spreading lies should be illegal, but I struggle to understand why disseminating factually accurate information should considered a negative thing.