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Citron Delivers Blow to Inovio’s Surging Stock Amid Vaccine Hope

  • Short seller sees shares falling to $2 after 480% surge
  • Trading volume has exceeded 100 million on multiple days

Inovio Pharmaceuticals Inc.’s meteoric rise on the back of hype for a vaccine to treat the coronavirus drew the ire of noted short-seller Citron Research, as the firm slapped a $2 target on the drug maker.

“SEC should immediately HALT this stock and investigate the ludicrous and dangerous claim that they designed a vaccine in 3 hours,” the tweet said. “This has been a serial stock promotion for years. This will trade back to $2. Investors have been warned.”