Citron has shot down stocks many times before. And it's been wrong on more than one occasion.
On Feb. 14, 2013, Citron Research issued a report about 3D Systems (DDD) and tweeted it during the above price bar with a blue circle claiming, "Anyone who is looking at this stock over $30 a share is obviously bullish on the next five years of hype, and less concerned about the details like accounting methods."
For a brief time, 3D Systems shares dipped below $30. You know what that turned out to be? A buying opportunity, that's what. Because following the dip, 3D Systems more than tripled and came close to surpassing $100 before the end of the year. It zoomed over 50% higher now than when the report was issued.
Another example came on June 12, 2013, with the consumer-services platform Angie's List (ANGI). But 20 minutes after the report was tweeted by Citron Research, the shares were trading higher.