Citron Goes After Analytics Company Up 1,000% In A Month

After trading up 25 percent Tuesday in its fourth consecutive daily rally, Helios and Matheson Analytics Inc HMNY took an abrupt $5 plunge Wednesday off a tweet by short-seller Andrew Left.

$hmny stock to trade back to $20 Retail investors are warned. You might like product but $1+bill it isn’t. Giving away $1 for .90 no biz

— Citron Research (@CitronResearch) October 11, 2017

CNBC’s Jim Cramer quickly responded to the Citron tweet that “a squeeze is a squeeze by any name.”

See Also: Helios And Matheson's Stake In MoviePass Is Paying Off

Prior to the drop, Helios had risen 1,103 percent month-over-month, catalyzed by Sept. 14 reports of significant MoviePass subscription growth. The stock had popped 140 percent since Oct. 5, when Netflix, Inc. NFLX announced impending price hikes.

At time of publication, Helios was continuing downward but remained up 6 percent off the open at a price of $29.74 per share.

Citron’s price target implies 40-percent downside which, if the “Left effect” holds, may yet actualize. Left recently made a similar call on Shopify Inc (US)SHOP, which abruptly stopped a 30-percent runup and has since fallen 20 percent.

Update, Oct. 12: At 2:39 p.m. ET, Citron covered its short.