April 16, 2019 / 5:39 PM / 6 months ago

BUZZ-Village Farms stock drops after short-seller Citron roots for $1

April 16 (Reuters) - ** Village Farms International’s U.S.-listed shares fell as much as ~20.5 pct to $10.09 in heavy volumes after short-sellor Citron Research set a PT of $1 on it

** Citron says here unlike other quality Canadian U.S. multi state operators in cannabis market, VFF is "at best a farmer with a track record of failure"

** Also calls on SEC to investigate company and its cannabis-focused JV with producer Emerald Health Therapeutics and Pure Sunfarms, a supplier owned 50% by VFF

** VFF, which describes itself as a ‘greenhoouse grower’, declined to comment on the Citron report

** Citron also says “the whole cannabis space has become overextended”, but notes there are some ‘real players’ that might have expensive stocks (Reporting by Shariq Khan in Bengaluru)

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