Multiple (portfolio update)
The three reasons
- 1
AGL short worked: $5 PT set when stock was $25, fell to target on unprofitable model
- 2
Still long GEO and Alibaba; BABA benefits from Qwen AI, cloud, and e-commerce rebound
- 3
Now cautious on ASTS at $26 after run from $2 given dilution risk and Starlink competition
KPIs cited
Pattern membership
Where this document fits across the library's 12 rhetorical / structural patterns.
Notable slides (1)
Notes
Reflective 'Good / Bad / Ugly' retrospective rather than a single-target short thesis. Covers past shorts (AGL, ETSY, APLS), current longs (GEO, BABA), an unexpected SPAC win (ASTS, now cautious), and acknowledges misses (Edgio, Blue Apron). Word-doc-style memo with only Citron logo header branding; no charts or slides. Treated as fund-level follow-up / portfolio update. Quotes Buffett ('far better to buy a wonderful company at a fair price...') as lesson-learned framing. Signed collectively as Citron Research, no named individual signatory.