David Einhorn's New Letter Is Out And It's Making Some Stocks Go Nuts

Closely followed hedge-fund manager David Einhorn has sent out Greenlight Capital’s quarterly investor letter, and some stocks are going bonkers.

Bloomberg News reports that he revealed a long position in Conns Inc. (CONN). That stock was last trading up about 9% on the Einhorn news.

He also disclosed a “large” long position in SunEdison (SUNE), according to Bloomberg News. That stock was last up more than 8%.

During the first quarter, Einhorn closed his Chipotle (CMG) short. Shares of Chipotle had soared since Einhorn publicly revealed his short at the Value Investing Congress in October 2012.

Einhorn exited his positions in General Motors (GM), DST Systems (DST), and NCR Corp (NCR).

Einhorn writes in the letter that we’re witnessing the second tech bubble in 15 years and that he’s betting against some momentum stocks, according to CNBC.

We’re tracking down the letter. More to come …

Here’s a chart of Conns. Inc.

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