The Value Investing Congress often generates some stock-moving buzz around shares as some of the key money managers and hedge fund managers get to present their case for why they see value (or why they see the value as ludicrous). Greenlight Capital's David Einhorn has talked up two key stocks today.
Cigna Corp. (NYSE: CI) has risen 1.2% to $48.67 after Einhorn disclosed his position there. We would make note that Greenlight was already a known holder of Cigna shares as of June 30 with a 2.2% stake of 6.435 million shares of June 30.
General Motors Company (NYSE: GM) was also talked up by David Einhorn. We would note that in this position it has already been disclosed as of the June 30 date that Greenlight owned a 1.1% stake with some 17.42 million shares.
One position that David Einhorn is talking down is Chipotle Mexican Grill, Inc. (NYSE: CMG) as he called it a short sell with rising employee healthcare and rising food prices as two key headwinds. Shares of Chipotle are now down 5% at $299.99 so far today. Taco Bell competition was also noted along with a high valuation, but that has always been the case.
Another position that Einhorn is still speaking out against is Green Mountain Coffee Roasters Inc. (NASDAQ: GMCR) but this stock is actually on the rise due to short covering. Shares are up 1.2% at $23.59.
JON C. OGG
Filed under: 24/7 Wall St. Wire, Active Trader, Analyst Calls, ETFs & Mutual Funds Tagged: CI, CMG, GM, GMCR