Short-seller Citron reveals short position in Agilon Health

N Citron

27/07/2022 21:26

July 27 (Reuters) - Short-seller Citron Research on
Wednesday revealed a short position in Agilon Health Inc
 AGL.N , sending shares of the primary care platform 3% lower at
close.
    This is Citron's first such report after founder Andrew Left
said last year his company would no longer publish short-selling
research, following a bet against videogame retailer GameStop
 GME.N  that attracted backlash from retail investors and
triggered a social-media driven trading frenzy.
    In its report https://bit.ly/3zCW00t on Wednesday, Citron
called Agilon, which partners with physicians, "the most
vulnerable healthcare stock in the market."  The short-seller
also criticized Agilon's business model, saying it is "designed
for abuse".
    The company connects physicians with Medicare-eligible
patients and payors, with a focus on value-based care under
which healthcare providers are paid based on the outcome of
their services.
    Agilon Health declined to comment on Citron's report.
    Shares of the company fell as much as 8% after the report.
Up to Wednesday's close, the stock had lost about 19% since it
went public in April last year.

 (Reporting by Amruta Khandekar; Editing by Devika Syamnath)
 ((Amruta.Khandekar@thomsonreuters.com;))