Citron Research’s Left Calls Root ‘The Next Big Short Squeeze’
One of the most prolific and best-known short sellers in the world, Andrew Left of Citron Research, published a new report that claims heavily-shorted Auto-insurer Root Inc. could be the next big short squeeze.
Left published the report on Thursday that said Root has “short interest as a % of float now between 44% and 79%. He said, “ROOT is now the most highly shorted stock with a market cap above $1 billion in North America.”
ANDREW LEFT SAYS $ROOT HAS 50% SHORT INTEREST, THE NEXT BIG SQUEEZE – FBN
— FXHedge (@Fxhedgers) March 26, 2021
Bloomberg’s current figures show ROOT’s % of float short is around 43% and has been rapidly climbing in the last several months.
“We believe Root is a misunderstood short,” he said, calling the six-year-old company a “disruptive tech company” whose shares should be trading much higher.
ROOT jumped 15% in Friday’s cash session as of 1124 ET.
To view Left’s full report of Root read here: