David Einhorn is long Macy's and the stock is surging

Greenlight Capital, the hedge fund led by David Einhorn, is long Macy's, according to Bloomberg News.

The retailer's stock is up 3.5% at $39.20 per share.

Einhorn joins the likes of Jeff Smith of Starboard Value as an investor in Macy's. Starboard last held more than 3.26 million shares of Macy's stock.

More to come...