Citron Research Halts Short Selling of GameStop, Citing Company's Cash Reserves

According to Foresight News, Citron Research, a notable short seller of GameStop, has announced that it will no longer short sell GME. The decision is not based on a belief in the company's potential for improvement, but rather due to GameStop's current cash reserves of $5 billion. This substantial amount is sufficient to appease its fervent shareholders, and Citron respects the market's irrationality. Following this announcement, GME's stock price, which had risen by 22.8% during Tuesday's trading, has now increased to $30.49, with pre-market trading up by 1.21%. In a tweet, Citron Research also mentioned, 'After all, Dogecoin is still a $20 billion entity. While an increase in the number of shares may alleviate mob mentality, Citron will now stand by and observe.'