Thomson Reuters FILE PHOTO: David Einhorn, president of Greenlight Capital speaks at the Sohn Investment Conference in New York
NEW YORK (Reuters) – David Einhorn said on Monday that his Greenlight Capital is betting Assured Guaranty’s stock will fall, sending shares of the bond insurer down as much as 6 percent in after-hours trading.
Einhorn, who is known to move stocks by simply opening his mouth, did not disappoint at the Sohn Investment Conference with this year’s presentation. The stock’s fall essentially wiped out its gains to date this year.
Einhorn called Assured Guaranty "a melting ice cube that is paying out the drops while it still can."
(Reporting By Jennifer Ablan and Svea Herbst-Bayliss, Editing by Rosalba O’Brien)