to-the-point: Einhorn's Greenlight cuts SunEdison stake by 25%

November 17 (SeeNews) - US hedge fund Greenlight Capital Inc, run by David Einhorn, cut its stake in SunEdison Inc (NYSE:SUNE) by 25% and now holds a bit over 18.6 million shares in the renewable energy company.

A filing with the US Securities and Exchange Commission (SEC) on Monday shows that Greenlight Capital has disposed of 6.24 million of SunEdison stock since mid-August.  

In July SunEdison reached a high of USD 33.45 but since then it has lost more than 85% of its value. Its shares hit a low of USD 4.5 on November 16.

A week ago SunEdison posted a quarterly net loss of USD 284 million (EUR 266.4m) on revenues of USD 476 million.

(USD 1 = EUR 0.938)

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Browse all articles from Tsvetomira Tsanova

Tsvet has been following the development of the global renewable energy industry for almost nine years. She's got a soft spot for emerging markets.

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