- Citron Research has placed a $230,000 charity bet on its
- The noted short-seller has a $230 price target for Nvidia, which was the top performing S&P 500 stock in 2017.
ADVERTISEMENT
A prominent short-seller just made a $230,000 bet with Jim Cramer on one of the best-performing tech stocks (NVDA)
Citron Research has placed a $230,000 charity bet on its Nvidia position after some light prodding from CNBC host Jim Cramer.
Nvidia might have been the best performing S&P 500 stock in 2017, but the bears see it's rise as a potential money maker for short-selling.
After CNBC host Jim Cramer prodded Citron Research for Nvidia surging past the firm's $170 price target it set in June 2017, the firm fired back, saying it would donate $230,000 to the Humane Society if the stock is still above $230 in a year.
ADVERTISEMENT
It's unclear if Cramer has accepted the bet, or what's at stake for the Mad Money host if Nvidia's share price drops as much as Citron predicts. One thing is for certain, Cramer sticks up for his dog, aptly named for the chipmaker.
It's not an unusual move for Citron. The company, headed by Andrew Left, regularly publishes bearish reports on companies it thinks are overvalued.
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng
ADVERTISEMENT