David Einhorn Presses His Green Mountain (GMCR) Short Bet
Down)
While David Einhorn was busy covering a lot of his winning short sale trades in the fourth quarter, he is keeping one... Green Mountain Coffee Roasters (Nasdaq: GMCR).
In a letter to Greenlight Capital clients dated January 17, 2012, Einhorn said Green Mountain and First Solar (Nasdaq: FSLR) were two "significant" winners on the short side in the quarter. He covered his First Solar short, but remains short Green Mountain. Einhorn also said the covered his short sale of Diamond Foods (Nasdaq: DMND), which was a smaller bet.
Shares of Green Mountain plunged throughout the quarter as the company missed fourth quarter results and failed to respond effectively to Einhorn's short thesis.
Einhorn first disclosed his short on October 17, 2011 at the Value Investing Congress. Shares are down 45 percent since.
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In a letter to Greenlight Capital clients dated January 17, 2012, Einhorn said Green Mountain and First Solar (Nasdaq: FSLR) were two "significant" winners on the short side in the quarter. He covered his First Solar short, but remains short Green Mountain. Einhorn also said the covered his short sale of Diamond Foods (Nasdaq: DMND), which was a smaller bet.
Shares of Green Mountain plunged throughout the quarter as the company missed fourth quarter results and failed to respond effectively to Einhorn's short thesis.
Einhorn first disclosed his short on October 17, 2011 at the Value Investing Congress. Shares are down 45 percent since.
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