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Veritone slides as Citron says stock should be 70% lower

Published 09/27/2017, 03:46 PM
© Reuters.  Veritone slides as Citron says stock should be 70% lower
VERI
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  • Veritone (NASDAQ:VERI) is in the doldrums (down 27.5%) after a late-morning tweet from short seller Citron Research picked a fair-value price 70% below yesterday's close.
  • The company "is not artificial intelligence, more like natural stupidity," Citron says in the tweet. "Stock should trade right back to $20."
  • Shares had closed at $65.91 yesterday; they're down more than $18/share to $47.80 shortly before the close.
  • The company's stock had jumped last week after its artificial-intelligence platform won best of show at IBC.
  • Citron, meanwhile, has of late focused its bearish power on Ubiquiti Networks, which it's calling a "total fraud."
  • Now read: Monday Was About Profit Taking - Cramer's Mad Money (9/25/17)


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