Andrew Left, who has long targeted companies that he thinks are over-valued thro...
After investing only his own wealth for roughly two decades,Left in 2018 began laying the groundwork for Citron Capital, his hedge fund. By raising outside capital, Left has more firepower to go after some of the biggest U.S. companies.For this year, Left said RH, whose stock price closed at $212.77 on Monday, may be bought. “We believe the company has matured to a point that we might see it acquired in 2020.
He also said he is sticking by his bet that shares in Peloton Interactive, whose stock closed at $29.75 on Monday, will fall. “Citron put a one-year price target of $5 and we stand by it as $5 makes this still a $1.5 billion company.”Left also gave investors lessons that he learned last year; reminding himself and others to stay away from what he calls “big story ‘cult stock’” companies and sticking with what he does best: exposing fraud.
He also said that this year will be a year of growth and that he is looking to expand beyond his home base in Los Angeles. Reporting by Svea Herbst-Bayliss with additional reporting by Lawrence Delevingne; editing by Richard Pullin
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