David Einhorn Desperately Ill With Ackmania Again

Tesla shares have tripled over the last four months. Elon Musk is taking victory pot shots. That can only mean one thing: David Einhorn’s brief remission from the Teslan strain of Ackmania was just that, brief, and appears to be metastasizing around Netflix.

Greenlight Capital fell 7.6% across the funds in January, according to an investor update on Friday viewed by Bloomberg…. Einhorn added to his short position in Netflix in the fourth quarter, saying the company’s bullish growth narrative is “finally coming to an end” and that there’s “a lot of downside” to the stock. The streaming company’s shares rose about 6.7% in January.

Einhorn may be crying or laughing maniacally or screaming incoherently into his shorts, Dan Loeb is definitely not crying in his soup or popcorn. But, as ever, success can’t stop Danny Boy from identifying enemies and turning his ire upon them, like a boiling hot cauldron of Chunky Beef Burrito, in partnership with an old ally, like him with no sense of irony as a Trump supporter.

Third Point was able to overcome skepticism that it could turnaround “what most thought was a moribund and declining business,” the firm said in a letter dated Jan. 30.

Campbell shares rose 50% last year, prompting the hedge fund to take some profits and reduce its position to below 5% of the company. Third Point though remains bullish.

Daniel Loeb, the activist investor, launched a stinging attack on the Securities and Exchange Commission’s plans to curb the power of shareholder advisory firms, saying the US regulator has been misled by corporate lobbyists that reflect the Washington “swamp at it worst”….

“With all there is to do to police markets, why would the SEC adopt a cumbersome and costly solution when no one has demonstrated that a real problem exists?”

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