Some Bullish Picks from Robin Hood Investors Conference

David Einhorn Likes Solar Stocks

David Einhorn, who runs $10 billion fund Greenlight Capital, thinks that renewable energy is the next big thing, which is why he recommends investors to purchase shares of renewable power companies, according to Bloomberg citing people at the conference. Einhorn mentioned two stocks from the industry: TerraForm Power Inc (NASDAQ:TERP) and Sunedison Inc (NYSE:SUNE).

The president of Greenlight added that Sunedison Inc (NYSE:SUNE)’s stock could reach as much as $32. Greenlight is a shareholder of SunEdison and during the second quarter the fund boosted its position by 80% to over 21.3 million shares. Both SunEdison and TerraForm gained ground yesterday, amid Einhorn’s speech at the conference, with SunEdison still climbing today, currently trading over 5% in green. You can download a copy of Greenlight’s SunEdison presentation below:

Greenlight Capital SunEdison Presentation

Aside from Greenlight, another investor that owns shares of Sunedison Inc (NYSE:SUNE), among others, is Barry Rosenstein’s JANA Partners, which holds over 10.4 million shares as of the end of June, up by 170% on the quarter.

In addition, Einhorn was intereviewed by CNBC during the conference. The investor said that he is still optimistic about his two largest holdings: Apple Inc. (NASDAQ:AAPL) and Micron Technology, Inc. (NASDAQ:MU). About Apple Inc. (NASDAQ:AAPL), Einhorn said that it is a company that has been doing great on the financial side, increasing its revenues by adding more customers to its ecosystem, while the others keep switching to new devices. Moreover, he considers that Apple Inc. (NASDAQ:AAPL) is moving in the right direction with its buyback plan.

However, Greenlight also owns some important short positions, one of which is athenahealth, Inc (NASDAQ:ATHN). The negative bet was known since May, when Einhorn mentioned it during the Ira Sohn conference. athenahealth, Inc (NASDAQ:ATHN)h’s shares started the year with a big climb, followed by a significant decline and currently are trading down by 15% year-to-date. Einhorn said that he is still short Athenahealth and still thinks that the stock can lose around 80% of its value because the company “doesn’t earn any money.” He likes athenahealth, Inc (NASDAQ:ATHN)’s business, but he thinks that the stock trading at 100 times earnings is overvalued.