Hedge fund hot-shot David Einhorn, the founder of Greenlight
Capital, has nailed it again.
This time it's with General Motors. Shares of GM were last
trading up more than 7% following news that the car manufacturer said it would
buy back 200 million shares from the Treasury for $27.50 each, or $5.5 billion,
according to the Associated Press.
The government also plans to sell its 300 million shares
starting in January, the AP reports.
As of the third quarter ended 9/30/2012, Greenlight held 21,528,063
shares, or a 1.38% stake, in GM, according to 13F data compiled by
Bloomberg. What's more is Greenlight had
added 4,155,200 shares in Q3, the data shows….
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