Short-seller Andrew Left’s Citron Research has been shorting cannabis companies left and right, from Cronos Group Inc (NASDAQ:CRON) to Namaste Technologies Inc (CVE:N, OTCQB:NXTTF).
However, the infamous short-seller is long on tobacco-meets-cannabis company Pyxus International Inc (NYSE:PYX).
READ: Pyxus International rockets after its indirect subsidiary receives a cannabis cultivation license from Health Canada
Shares of the North Carolina-based company closed 36.62% higher on Monday at $38.50 and were up almost 5% in afterhours trade to $40.39.
Citron Research revealed its position via Twitter, highlighting the company’s strong management team and tight float.
$PYX would not short...speculative long. Real management and tight float. The stock could double from here as long as investors are Cannabis crazy. Our favorite hire..and it wasn't last week. https://t.co/mPdfuGBVJe
— Citron Research (@CitronResearch) October 8, 2018
The tweet included a link to the LinkedIn profile of executive vice president Bryan Mazur, the former vice president and general manager of Dr Pepper Snapple Group, calling him a “favorite hire”.
The agriculture company announced last week that its Canadian subsidiary, Goldleaf Pharm Inc, received a cannabis cultivation license from Health Canada.
The Access to Cannabis for Medical Purposes Regulations cultivation license allows Goldleaf to begin cultivating medical cannabis at its 20,000 square foot indoor growing facility in Ontario.
Pyxus, formerly known as Alliance One International, offers products in the leaf tobacco, e-liquids, industrial hemp and legal cannabis industries.
Contact Lenore Fedow at lenore@proactiveinvestors.com
Follow her on Twitter: @LenoreMariee