Short-seller Citron Research issued a report on Applied Optoelectronics Inc. (NASDAQ:AAOI) this Friday. The firm announced a new short position in the fiber-optic networking company. Citron cited a “delusional” valuation following a massive two-week surge.
Short interest in AAOI fell to 10.30 million shares from 10.56 million, representing 13.68% of the float. At an average daily volume of 14.45 million shares, it would take about one day to cover.
Citron Challenges Recent Stock Momentum
The stock has skyrocketed approximately 73% from March 30. Prices moved from $85.19 to $147.50 on Friday. Citron Research, led by Andrew Left, questioned the validity of this move on X.
AAOI rose from $85 two weeks ago, adding roughly $3.5 billion in market value following a “random press release,” the short-seller said. Citron predicts a return to the $85 …
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