The stock that burned 2 hedge fund billionaires is getting decimated
David Einhorn of Greenlight Capital and Leon Cooperman of Omega Advisors both lamented their stakes in SunEdison, a manufacturer of solar-energy components, earlier this month.
The share price at the time was $16.80.
It has almost halved since then, dropping 18% on Tuesday alone. It is now trading at $8.80.
"The losses were broad-based, but the biggest loss is coming from SunEdison," Einhorn said of SunEdison's effects on Greenlight's portfolio in his most recent investor letter.
Cooperman, for his part, asked SunEdison's executives if they would consider buying back stock during the company's last earnings call with investors.
It's unclear if they're still in the stock, but if they are, they may be inquiring about those buybacks again.
Yahoo Finance