Citron shorts VCX, asks SEC to probe Fundrise influencers

Citron Research shorted Fundrise Innovation Fund (VCX), calling for an SEC investigation into potential paid promotions by influencers. VCX plummeted 37% as Citron noted the fund trades at over $400 against asset value of $19. This follows a 2023 SEC charge against the fund's sponsor for solicitation violations. Retail sentiment remains extremely bullish.