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.

David Einhorn Slams Pioneer Natural Resources (PXD), Frackers in Presentation at Ira Sohn Conference (See It Inside)

Page 1 of 92

David Einhorn of Greenlight Capital fame didn’t hold back today at the 20th annual Sohn Investment Conference. Einhorn took aim at fracking companies during his presentation in front of a packed audience, taking particular aim at Pioneer Natural Resources (NYSE:PXD), declaring it a “motherfracker” and deriding its wasteful spending and cash burning operations, which includes a loss of $12 for every barrel of oil equivalent that it produces. Einhorn added that such companies have a “nearly infinite supply of negative return opportunities.”

If you don’t know Mr. Einhorn or doubt his clout in the investing world, you need only look at the reaction that his presentation had on Pioneer Natural Resources (NYSE:PXD)’s stock today: shares nosedived $8 within minutes of Einhorn verbally decimating the company. Einhorn said Pioneer should be trading around $78 per share, less than half of its current trading rate of over $168. Read all about Einhorn’s newest short play in his full presentation from the conference below and on the following pages.

 

image-0001

Page 1 of 92
Loading...