Time To Give Up On GMCR?
Tim Knight | Nov 05, 2014 11:49PM ET
Famous fund manager David Einhorn has thrown in the towel on his Keurig Green Mountain Inc (NASDAQ:GMCR) short. He wrote, “We closed out a number of positions including the remainder of our short position in Keurig Green Mountain. While it should be tempting to write an entire book on our experience with this ultimately unsuccessful short (our average sale was at $47.59 and our average cover was at $67.02; we had many opportunities to trade this position to a successful result, but failed to do so).” I’ve marked in red the point where he made his widely-touted presentation on the short, and I’ve marked in green the point where he surrendered. As you can see, there were indeed missed “opportunities” to get out at a great profit.
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