Photo: Linette Lopez for Business Insider
Hedge fund hot-shot David Einhorn, the founder of Greenlight Capital, just made his huge investment pick at the annual Ira Sohn Investment Conference in New York. The stock he slammed is Martin Marietta Materials.
As soon as he mentioned the company, its stock price instantly tanked 10%.
Trading in MLM has just resumed after the stock was halted. The stock is currently trading down ~8%
Earlier, the rumour was he was going to be short Herbalife after the hedge fund manager asked a question on the company’s most recent earnings call.
However, Herbalife’s stock is surging 9% today.
Einhorn is known for famously publicly shorted Lehman Brothers before the bank’s demise and most recently Green Mountain Coffee Roasters.
Here are some other highlights from his presentation:
- He’s short Amazon.
- He loves Apple, says that the market cap could go to a trillion.