Tesla Short David Einhorn Says Last Quarter Was ‘As Good As It Gets’ (Bloomberg)
Prominent Tesla Inc. short seller David Einhorn thinks the third quarter was the high-water mark for the electric-car maker, because sales of pricier Model 3 sedans will wane going forward. “We believe this will be as good as it gets for the company,” Einhorn said on an earnings call for Greenlight Capital Re Ltd., the reinsurer tied to his hedge fund, Greenlight Capital. “We believe they’ve exhausted most of the demand from customers who can afford the highest-priced versions of the Model 3.”
Lampert Keeps His Cash on Sidelines as Sears Touts Auction Plan (Bloomberg)
(Bloomberg) — For once, Eddie Lampert is keeping his wallet in his pocket. Sears Holdings Corp. is closing in on a deal with new lenders to finance it through its bankruptcy, according to a person with knowledge of the situation. Lampert and his hedge fund, ESL Investments Inc., won’t be participating. Then there’s the retail chain’s plan, announced last week, to auction off the highest-performing stores starting in February at the latest.
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Robert Mercer, Trump’s biggest donor, is at it again in 2018 (Quartz)
Hedge fund manager Robert Mercer may be the most influential political donor of the Trump era. Though fellow hedge fund manager Tom Steyer and casino mogul Sheldon Adelson have given far more money, their investments were not as well targeted. Mercer, who’s net worth is unknown, was Donald Trump’s biggest donor ahead of the 2016 election, according to the Center for Responsive Politics.
New Hedge Funds Strike Out in October (Bloomberg)
In a major test for the big three who started hedge funds this year — Dan Sundheim, Steve Cohen and Michael Gelband — none of them made money in October. Sundheim’s D1 Capital Partners fared the worst last month, losing 5.9 percent. Cohen’s Point72 Asset Management was down 1 percent while Gelband’s ExodusPoint Capital Management was flat, according to people familiar with the returns.
Insider Buying: Intrepid Potash, Inc. (IPI) Major Shareholder Acquires 306,467 Shares of Stock (FairFieldCurrent.com)
Intrepid Potash, Inc. (NYSE:IPI) major shareholder Clearway Capital Management Lt purchased 306,467 shares of the firm’s stock in a transaction on Wednesday, October 17th. The stock was acquired at an average price of $3.55 per share, for a total transaction of $1,087,957.85. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Insider Selling: TherapeuticsMD Inc (TXMD) CEO Sells 184,000 Shares of Stock (MareaInformativa.com)
TherapeuticsMD Inc (NASDAQ:TXMD) CEO Robert G. Finizio sold 184,000 shares of the business’s stock in a transaction dated Friday, October 26th. The stock was sold at an average price of $5.28, for a total value of $971,520.00. Following the transaction, the chief executive officer now owns 18,485,559 shares of the company’s stock, valued at $97,603,751.52. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
Insider Selling: Fortinet Inc (FTNT) VP Sells 73,780 Shares of Stock (PressOracle.com)
Fortinet Inc (NASDAQ:FTNT) VP Michael Xie sold 73,780 shares of the stock in a transaction on Friday, November 2nd. The stock was sold at an average price of $81.71, for a total transaction of $6,028,563.80. Following the transaction, the vice president now owns 9,309 shares of the company’s stock, valued at approximately $760,638.39. The sale was disclosed in a filing with the Securities & Exchange Commission.
Insider Buying: Legacy Reserves Inc (NASDAQ:LGCY) Major Shareholder Buys 50,000 Shares of Stock (PressOracle.com)
Legacy Reserves Inc (NASDAQ:LGCY) major shareholder Baines Creek Capital, Llc bought 50,000 shares of the business’s stock in a transaction that occurred on Friday, October 12th. The shares were bought at an average price of $5.02 per share, with a total value of $251,000.00. The purchase was disclosed in a document filed with the SEC.
Insider Buying: Cerecor Inc (CERC) Director Buys 55,899 Shares of Stock (FairFieldCurrent.com)
Cerecor Inc (NASDAQ:CERC) Director Armistice Capital, LLC bought 55,899 shares of the company’s stock in a transaction that occurred on Friday, October 26th. The stock was purchased at an average price of $3.94 per share, for a total transaction of $220,242.06. The purchase was disclosed in a document filed with the SEC.
