Is Lululemon Athletica (LULU) About to Get 'Einhorned'
Get Alerts LULU Hot Sheet
Join SI Premium – FREE
Another day, another David Einhorn rumor.
Today, market chatter suggests that the hedge fund honcho has taken a short bet on Lululemon Athletica Inc. (NASDAQ: LULU). Similar chatter recently suggested he was shorting Apollo Group Inc. (Nasdaq: APOL), while covering his Green Mountain Coffee (Nasdaq: GMCR) short.
Today's chatter could have been sparked by an interesting WSJ article discussing 'The Einhorn Effect.' "We call it being 'Einhorned,"' says Scott Warner, a portfolio manager at Pacific Alternative Asset Management.
The Wall Street Journal reviewed the performance of 22 stocks after they were mentioned by Mr. Einhorn in television interviews, investor conferences, other public events and letters to Greenlight investors. The nine companies where analysts and investors saw his comments as negative fell by a median of 4.9% on the same day, the analysis shows. Thirty days later, the median decline was 13%.
So is Einhorn short Lululemon Athletica? The truth is... nobody knows, except Einhorn and his traders of course. However, Wall Street may soon find out what Einhorn has been up to on the short side. Einhorn is scheduled to speak at the 8th annual Value Investing Congress on Tuesday, October 2.
Shares of LULU are down 3.6 percent mid-day to $74.63.
Today, market chatter suggests that the hedge fund honcho has taken a short bet on Lululemon Athletica Inc. (NASDAQ: LULU). Similar chatter recently suggested he was shorting Apollo Group Inc. (Nasdaq: APOL), while covering his Green Mountain Coffee (Nasdaq: GMCR) short.
Today's chatter could have been sparked by an interesting WSJ article discussing 'The Einhorn Effect.' "We call it being 'Einhorned,"' says Scott Warner, a portfolio manager at Pacific Alternative Asset Management.
The Wall Street Journal reviewed the performance of 22 stocks after they were mentioned by Mr. Einhorn in television interviews, investor conferences, other public events and letters to Greenlight investors. The nine companies where analysts and investors saw his comments as negative fell by a median of 4.9% on the same day, the analysis shows. Thirty days later, the median decline was 13%.
So is Einhorn short Lululemon Athletica? The truth is... nobody knows, except Einhorn and his traders of course. However, Wall Street may soon find out what Einhorn has been up to on the short side. Einhorn is scheduled to speak at the 8th annual Value Investing Congress on Tuesday, October 2.
Shares of LULU are down 3.6 percent mid-day to $74.63.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- HP Inc. (HPQ) Climbs Following Stake by Greenlight Capital
- lululemon Unveils Team Canada Summer Athlete Kit for Paris 2024 Olympic and Paralympic Games in Partnership with the Canadian Olympic Committee and Canadian Paralympic Committee
- Lululemon to shutter Washington distribution center, lay off 128 employees
Create E-mail Alert Related Categories
Hedge Funds, Trader TalkRelated Entities
Value Investing Congress, Greenlight Capital, David Einhorn, Hedge FundsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!