good pickup on the citron article. The article by citron reminded me of articles written on SA by individuals that short Zillow, namely an individual named odysseus.
When you look past the "selected information given by citron research" you recognize how poorly researched the article was, I was actually surprised that the market reacted to such an article.
They quote a negative evaulation of a departing bitter employee but fail to give any numerous positive ones. They give a video of a town hall meeting- where agents are requesting money from Zillow, just to get the point across that the company is not profitable, however one just needs to look at past financials to look at alternative. They fail to quote CEO that company will get 30% EBIDTA by 2016. They fail to calculate the EPS by 2016. They fail to give any forward prediction of revenues. They fail to provide this and forward info b/c it does not play into there bearish agenda.
I was actually glad that the shares sold off, it makes for a better short squeeze in several weeks leading up to earnings. It also made for cheaper 2015 call options.
Has anyone here actually read Citron's "research" reports? They're more silly than scathing, I'd say. Anecdotes, red herrings,-- anything other than serious analysis. If I held Z long - which I don't at the moment - I'd sell the Citronites all the puts they want on Monday and wait for them to become worthless.
PS It's interesting that the Citron "research" on Z was released on options expiration day. Maybe their recent misadventures have depleted their funds to the point where they have to play at the slots, rather than the tables.