Greenlight sells its Vodafone stake
Greenlight Capital sold out of its Vodafone stock today with no explanation to the market
Greenlight Capital sold out of its UK telecommunications company Vodafone stock today according to a letter sent to investors last Friday and seen by news outfit Reuters.
The letter also said that the hedge fund firm had established a medium-sized long position in an unnamed utility company.
It has been reported that Greenlight has taken a short position in electric car company Tesla. Investors in Greenlight Capital have become jittery in the past eighteen months as their faith in the abilities of David Einhorn, Greenlight CEO, plummeted as his hedge fund badly underperformed.
The firm has lost more than $3.2 billion in assets as its main fund plunged 20.4% in the last eighteen months, while the stock market rose 1.4 percent.