Einhorn's Greenlight Capital sold out of General Motors: letter

BOSTON (Reuters) - Hedge fund Greenlight Capital said it sold its position in carmaker General Motors, saying the company's forecast for 2020 was worse than the hedge fund had expected.

"General Motors was a disappointment," the firm wrote to investors in a letter seen by Reuters. "We sold our stock." During the five years that Greenlight owned shares in the carmaker, the hedge fund earned an internal rate of return of 9.6%, the letter said.

(Reporting by Svea Herbst-Bayliss)

You May Also Be Interested In

• General Motors (GM) PT Raised to $33 at TD Cowen
• Nvidia launches AI security tools to prevent agent breaches
• S&P 500 breadth hits lowest level since dot-com bubble, Goldman says