Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

These Hedge Fund Managers Got Einhorned: Chipotle Mexican Grill (CMG)

GREENLIGHT CAPITALChipotle Mexican Grill Inc (NYSE:CMG) dropped $20 in the span of two minutes on Tuesday. David Einhorn revealed his short thesis at the Value Investing Congress today. This has become a tradition. Last year Green Mountain Coffee Roasters (NASDAQ:GMCR) went through the same ordeal. It was trading around $90 at the time, today it is at $24. Einhorn actually disclosed a 50K share put position in Chipotle Mexican Grill (CMG) more than a month ago and the market didn’t notice it at that time.

Several well-known hedge fund managers lost millions of dollars after Einhorn’s presentation. Here are the hedge fund managers who got Einhorned:

1. Jim Simons’ Renaissance Technologies lost nearly $8 million assuming that they haven’t changed their holdings in Chipotle Mexican Grill (NYSE:CMG)

2. Philippe Laffont’s Coatue Management lost around $7.5 million.

3. Billionaire Stanley Druckenmiller‘s loss was over $3 million.

4. Louis Navellier‘s firm lost over $2 million.

5. David Stemerman’s Conatus Capital also lost nearly $2 million.

Biotech Insider Alert - $5 Stock To Hit $40

$200 Million Dollar Healthcare Hedge Fund's #1 Best Idea Right Now

The best healthcare hedge fund out there right now is one of the largest shareholders in this biotech stock. The fund returned more than 20% in each of the last 2 years with a virtually fully hedged portfolio, and it's sending out a BUY signal on this biotech stock. Get your FREE REPORT today (retail value of $300)

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...
X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!