Money researcher calls Ubiquiti Networks fraud

Andrew Left, founder of Citron Research - a research firm has called Ubiquiti Networks ‘fraud’.

I have been using Ubiquiti Networks access points for many years now in both a business environment as well as home. I learned about their products through word of mouth, which is one of the points that Mr. Left disputes about Ubiquiti’s business model.

I know a number of you have used Ubiquiti’s products; what are your thoughts on this? I emailed Mr. Left describing my positive experiences with Ubiquiti’s products.

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Shit, I dunno. I’m going to be watching it closely one way or another.

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I’ve been steadily building my purchase list for my network lab (and even at work for new AP’s), but watching this video makes me a tad bit concerned… I’d like to read some comments from others who use their products, and see how much of this is lining up.

While I don’t have the knowledge to critique whether these are red flags in financing and business in general. I can, however, nod to a couple of the points Ubiquiti puts forth. They do have a niche in the market - business grade at just above consumer prices (or at least the perception of it). Does Netgear have this too? Yes, definitely, but that is not all they have, they also have crappy consumer grade hardware, which is also why they do not have a “following”, like Ubiquiti has. Ubiquiti is a little like the Apple of networking equipment actually. Whether this preaching of the following (like many on this forum) translates into lower cost per sale, which translates into higher yield per employee, I don’t know, but it seems like it would point in that direction at the least. Are the numbers inflated though? i have no clue.

Sounds plausibible, Ubiquiti did violate gpl a few years back, taking some open source bsd stuff, modifying it, keeping it proprietary, and leaving it vulnerable, which led to a plethora of unifi devices being zombified lol.
All because of greed.
But their APs are still great tho.

Interestingly, I received a reply from Mr. Left, and his basic sentiments were that I should buy the dip. However, I know how the game is played, and looking at the stock, I see a lot of downside potential, especially if Mr. Left, a known short seller, can get some regulatory agencies roiled in this. My concern is that this business brinkmanship is going to ultimately put what I perceive as a good and decent manufacturer of networking equipment out of business.

This is a bigger red flag than anything in his video, IMO.

Why bring this up now? He’s got very little evidence than a stupid slide deck that’s been released.

Intel had an incredibly stupid slide deck taking pot-shots at EPYC earlier this year. Are they a fraud?

This whole situation screams cash grab to me.


I don’t doubt it. I’m sure his puts were already bought in advance of this hit piece. Then he goes on CNBC, Twitter, and whatever other outlets he can and drops the stock 10% in one day.

Frankly, if anyone should be investigated by the regulatory agencies, it should be him. It’s backwards pump and dump.


Yeah, I wanted to call this pump and dump, but it’s really just manipulating public opinion to drive down price.

The thing that bothers me the most is that he starts the video by listing credentials. That just screams “untrustworthy”

Yeah, everything that comes up by digging up stuff about Andrew Left screams stock flipper in your face

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Sketchy motherfucker if you ask me.

He’s the kind of guy I’d herd my children away from.

He’s the kind of guy I wouldn’t take a flash drive from.

He’s the kind of guy I wouldn’t stop to help if he’s broken down on the road.

Friends don’t let friends associate with Andrew Left.

More funny when Citron research is run by him alone, and even on the CR site it states Andrew has 17 years of -financial- experience XD

Might be legal tho if he’s just “stating his opinion”… so yeah, who’s the fraud?

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That makes sense. Protecting him from liability.

Exactly, but still very obviously manipulating the market, which seems to be pretty good business if you believe these sums;
(since nothing is confirmed to be true, just making up from the pieces)

Ok, enough about this for now lol


Wow! He got cucked. HARD!

Can anyone name off some competitors to Ubiquiti for multi-point access points?

Microtik has some. Used them in the past, hated it.

You want non commerical prices ?

Aruba is big in the game too but not gonna be cheap

I just want to know who makes access points that do what Ubiquiti’s multi point access points do well - which is roaming among multiple access points.