Citron calls on SEC to investigate Village Farms, puts $1 target on shares
Shares of Village Farms International moved lower after Andrew Left's Citron Research announced a short position in the name with a $1 price target. The firm known for its short selling called on the SEC to investigate the company. "It is the opinion of Citron that Village Farms is nothing more than a stock promotion. This company has used investors' enthusiasm for cannabis to create shady joint ventures with unrealistic projections to boost their stock price while hoping that a few hidden disclosures in their filings will shield them from all SEC enforcement," Citron said in a report posted on its website. "This is the exact type of promotion that the SEC has consistently warned investors about. We expect that when investors look past the paid stock promotions... the stock will quickly trade back to $1 if it doesn't get halted before that."