11:08 AM EDT, 06/12/2024 (MT Newswires) -- Citron Research said Wednesday it no longer holds a short position in GameStop ( GME ) .

"Citron is no longer short GME," the short seller said in an X post. "It's not because we believe in a turnaround for the company fundamentals will ever happen, but with $4 billion in the bank, they have enough runway to appease their cult like shareholders."

GameStop ( GME ) didn't immediately respond to a request for comment by MT Newswires.

GameStop ( GME ), which has seen its shares supported by the return of meme stock influencer Keith Gill, previously said it completed an at-the-market offering of 75 million shares for gross proceeds of about $2.14 billion.

GameStop ( GME ) shares were up 4.2% in recent Wednesday trading.

Price: 31.77, Change: +1.28, Percent Change: +4.20