{"id":480138,"date":"2022-08-01T21:17:21","date_gmt":"2022-08-01T18:17:21","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/david-einhorns-greenlight-capital-takes-stake-in-twitter\/"},"modified":"2022-08-01T21:17:21","modified_gmt":"2022-08-01T18:17:21","slug":"david-einhorns-greenlight-capital-takes-stake-in-twitter","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/david-einhorns-greenlight-capital-takes-stake-in-twitter\/","title":{"rendered":"#David Einhorn&#8217;s Greenlight Capital takes stake in Twitter"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2787a2387d8\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2787a2387d8\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/david-einhorns-greenlight-capital-takes-stake-in-twitter\/#%E2%80%9CDavid_Einhorns_Greenlight_Capital_takes_stake_in_Twitter%E2%80%9D\" >&#8220;David Einhorn&#8217;s Greenlight Capital takes stake in Twitter&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CDavid_Einhorns_Greenlight_Capital_takes_stake_in_Twitter%E2%80%9D\"><\/span>&#8220;David Einhorn&#8217;s Greenlight Capital takes stake in Twitter&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>Hedge fund Greenlight Capital said it took a new stake in\u00a0Twitter\u00a0last month as the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">social media<\/a> company sued to force Elon Musk to buy the company even as the billionaire entrepreneur said he has changed his mind about the deal.<\/p>\n<p>Greenlight founder David Einhorn wrote to investors on Monday that his hedge fund had taken the position, paying an average $37.24 for the stock, according to the letter seen by Reuters.<\/p>\n<p>Twitter shares were down 2.5% to $45.26 on Monday.<\/p>\n<p>\u201cAt this price there is a $17 per share of upside if TWTR prevails in court and we believe about $17 per share of downside, if the deal breaks. So we are getting 50-50 odds on something that should h<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>en 95%+ of the time,\u201d the letter said.<\/p>\n<p>Einhorn, whose firm gained 8.4% during the second quarter while the S&amp;P500 index tumbled 16%, has a long history with Musk after betting, for years, that electric car maker Tesla\u2019s stock would drop. The two men have often sparred on\u00a0Twitter.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/08\/david-einhorn-twitter.jpg?w=1024\" alt=\"David Einhorn\" class=\"wp-image-23283755\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/08\/david-einhorn-twitter.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/08\/david-einhorn-twitter.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/08\/david-einhorn-twitter.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>David Einhorn said his hedge fund paid an average $37.24 for the stock.<\/figcaption><figcaption><span class=\"credit\">REUTERS<\/span><\/figcaption><\/figure>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/08\/elon-musk-twitter.jpg?w=1024\" alt=\"Elon Musk, Twitter logo\" class=\"wp-image-23283670\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/08\/elon-musk-twitter.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/08\/elon-musk-twitter.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/08\/elon-musk-twitter.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Einhorn said he wrote a few years ago, half in jest, that \u201cthe accepted reality appears to be that Elon Musk is above the law.\u201d<\/figcaption><figcaption><span class=\"credit\">AFP via Getty Images<\/span><\/figcaption><\/figure>\n<p>Now Einhorn is returning for round two with Musk not long after\u00a0Twitter\u00a0in July sued Musk in Chancery Court in Delaware to make him complete the $44 billion acquisition, accusing the billionaire of refusing to honor his obligations to\u00a0Twitter\u00a0\u201cbecause the deal no longer serves his personal interests.\u201d<\/p>\n<p>Over the years, the court has developed case law relating to merger agreements and the \u201cresulting precedent and clear understanding of buyers\u2019 contractual obligations has created a great deal of predictability in this sphere,\u201d Einhorn wrote.<\/p>\n<p>Einhorn argues that the Delaware Court, the most prominent business court in the United States, has reason to force Musk to complete the purchase. \u201cIf it lets Musk off the hook, it will invite many future buyers\u2019 remorse suits.\u201d<\/p>\n<aside class=\"single__inline-module alignright\">\n    <\/aside>\n<p>Einhorn said he wrote a few years ago, half in jest, that \u201cthe accepted reality appears to be that Elon Musk is above the law.\u201d In a few months, the Delaware Court will rule.<\/p>\n<p>A five-day trial is scheduled for October and Einhorn wrote that he liked the \u201cthe risk-reward\u201d that precedent will be upheld, the letter said.<\/p>\n<p>He declined to write about Tesla, which he has not discussed in a letter since 2019.<\/p>\n<p>More <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a>ly, Einhorn, whose pronouncements on the economy and stock market have long been widely followed, said \u201cwe continue to believe we are in a bear market,\u201d and that the firm is amassing cash for future investments.<\/p>\n<p>In the first half of the year, Greenlight gained 13.2% compared with a 20% drop in the S&amp;P500 index. \u201cWe achieved our positive year-to-date result despite being net long in the bear market,\u201d the letter said, noting that undisclosed bets on certain stocks performed well.<\/p>\n<p>Greenlight exited a short position against C.H. Robinson Worldwide, after a modest loss, and liquidated a long bet on Rheinmetall\u00a0after a 125% gain over a few months as the company benefited from German and European defense spending.\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/08\/01\/david-einhorns-greenlight-capital-takes-stake-in-twitter\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;David Einhorn&#8217;s Greenlight Capital takes stake in Twitter&#8221; Hedge fund Greenlight Capital said it took a new stake in\u00a0Twitter\u00a0last month as the social media company sued to force Elon Musk to buy the company even as the billionaire entrepreneur said he has changed his mind about the deal. Greenlight founder David Einhorn wrote to investors&#8230;<\/p>\n","protected":false},"author":1,"featured_media":480139,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/08\/david-einhorn-twitter.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[131932,77411,39394,71070,73711,10401],"class_list":["post-480138","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-8-1-22","tag-david-einhorn","tag-elon-musk","tag-hedge-funds","tag-investments","tag-twitter"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/480138","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=480138"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/480138\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/480139"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=480138"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=480138"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=480138"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}