Short-seller Andrew Left’s Citron Research doubles down on Namaste Technologies, calls it a 'fraud'

Short-seller Andrew Left’s Citron Research is doubling down on claims that cannabis e-commerce platform Namaste Technologies Inc (CVE:N, OTCQB:NXTTF) is a fraud.

Citron proves without a doubt the fraud being committed at Namaste Tech $n $nxttf. This $700 mil company will be a 0 one regulators and accountants read. https://t.co/c7c2uphNzM

— Citron Research (@CitronResearch) October 4, 2018

In a research report, Citron said it had never seen such a blatant fraud being perpetrated and referred to Namaste’s CEO Sean Dollinger as “a walking securities violation.”

READ: Namaste Technologies CEO Sean Dollinger fires back after Andrew Left calls the stock a ‘joke’

The report suggested that if Vancouver-based Namaste was a US company, its shares would be halted, and its CEO would face charges.

Left and Dollinger have sparred before following Citron Research’s tweet about Namaste in September.

Namaste $N Canada. Some cannabis stocks are overvalued, and some are total jokes. This is a joke Drop it like its hot’ after the pledge party prohibits listing in US, downside: 80%. That .50

— Citron Research (@CitronResearch) September 14, 2018

“Tell [Left] he can come and hang out with me on the weekend, travel around the world,” Dollinger told Proactive Investors in an exclusive phone interview last month. “Tell him it’s a formal invite from me. Have him videotape everything we’re doing on site, we’ll prove to him that he’s the joke.”

Shares of Namaste fell more than 5% to $1.71 in Thursday morning trading.

Cannabis companies CV Sciences Inc (OTCQB:CVSI), Cronos Group Inc (NASDAQ:CRON) and Tilray Inc (NASDAQ:TLRY) have all been targeted by the short-seller.

Story by ProactiveInvestors