[caption id="attachment_7226" align="alignleft" width="260" caption="David Einhorn, Greenlight Capital"]
said on October 17 that he was shorting Green Mountain Coffee Roasters (GMCR).
He made the announcement at the Value Investing Congress that morning in a 110-slide presentation. By midday, shares in GMCR had fallen 11%
- and that was just the beginning. By mid-November, bearish options
on the stock were at their highest in over two years and the share price had fallen from a 52-week high of $115.98 to $65.55 a share. As of the close of trading December 21, GMCR was trading at just $45.30. But, Einhorn isn't done with GMCR just yet.
Hedge fund manager David Einhorn is taking an even harder stance against GMCR, "claiming a recent audit committee review of the accounting issues he flagged is nothing more than a whitewash," reports Reuters
"I think everything we said in the presentation is right now as it was then -- and in many cases even more so," said Einhorn. "Some of the things we pointed out, like the inexplicable sales of K-Cups in the June quarter, have now been revealed to have been very valid concerns and the rest remain unanswered. And some of them are things will have to sort of play out in the future like the competition."
to read the complete interview)