Should Investors Buy Into Wolfspeed's Huge Rally?
Even after its share price dropped more than 20% at one point on no news on May 27, (NYSE: WOLF) has been one of the hottest stocks in the market the past month, more than doubling in value. The rise in the stock appears to stem largely from Substack publication Citrini Research pumping it up.
Run by James van Geelen, whose past experience has been running an "alternative medicine" business and working as an emergency medical technician (EMT), Citrini has managed to gain a following despite its founder's lack of investment experience. The research outfit has made a name for itself in some peculiar ways over the past year.
It helped sink software-as-a-service (SaaS) stocks after publishing a thought piece about how artificial intelligence (AI) could negatively impact different businesses in the future. It was later revealed that the idea came from small hedge fund manager, Alap Shah, who was shorting the stocks mentioned in the article. Then earlier this year, Citrini claimed it sent an analyst to the Strait of Hormuz to interview smugglers, fishermen, and officials armed with $15,000 in cash, Cuban cigars, and a roll of Zyn. While news outlets, including CNBC, reported on this, it was never independently confirmed that this actually happened.
Source Fool.com
