Citron Research is back again today “exposing” yet another stock. This time the victim of the notorious short-selling firm is Shopify. A tech stock that has seen tremendous growth recently.
Now, I have already seen multiple people claiming this drop of over -10% in SHOP to be a great buying opportunity, and they may be right. Take a look at the chart of SHOP below for more information:
Circled in blue, you can see the massive drop that pushed the stock price deep under the lower Bollinger band. So, it wouldn’t be surprising to see the stock snap back in the Bollinger band range soon.
With that being said, you have to be careful buying a stock during a period of drama. But, I think it might be smart here to purchase the stock if it starts clearly moving back up.