A well-known figure from the David vs. Goliath story involving video game retailer GameStop Corp (NYSE: GME) that pitted retail traders against hedge funds and short-sellers has sights set on the cryptocurrency investors.
What Happened: Hedge fund Citron Research, led by Andrew Left, has returned to the spotlight Wednesday using Twitter Inc (NYSE: TWTR) to call out high valuations for the two largest cryptocurrencies.
“As ETH still trades above 1000 with a market cap of 140 billion. We say WTF?” Citron tweeted. “Every high-flying real software/cloud company is trading back to pre-pandemic levels which puts ETH at 200 (which is still expensive).”
The comments come as Ethereum (CRYPTO: ETH) has already lost a significant amount of value over the last month with major cryptocurrencies taking a beating. Ethereum is down 40% in the last seven days.
“Just saw Mike N (Mike …
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