02:49 PM EDT, 06/04/2024 (MT Newswires) -- Andrew Left has once again built a short position in GameStop ( GME ) , the founder of Citron Research told Reuters Tuesday.

"The company has deteriorating financials and is a good short," Left told Reuters after meme stock leader Keith Gill returned to the limelight.

Gill's reappearance on social media in the week of May 13 triggered a fresh demand frenzy for meme stocks, which are often companies with weak fundamentals but have a cult-like social media following, similar to the rally that occurred in 2021.

GameStop ( GME ) shares surged before the opening bell Monday after Gill, known as "Roaring Kitty," made a post on Reddit ( RDDT ) showing a sizeable holding in the video game retailer.

Left was squeezed the last time he shorted GameStop ( GME ) following a surge in the company's stock price in 2021. Gill was a key figure in the stock rally.

Citron Research and GameStop ( GME ) did not immediately respond to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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