Greenlight Capital President David Einhorn brought his fight to unlock AAPL's stock value today by bringing his ideas to the news media. He argued that by offering perpetual preferred shares, yielding about 4% in dividends, to existing stock holders, and he expects the strategy could bring up the AAPL stock price up by "hundreds of dollars". The AAPL stock is currently trading at $457, Einhorn is basically suggesting his idea would bring the stock back up to its all time peak around the $700 level.
As of November of last year, the Greenlight Capital has about one million shares in their position (~$450M at today's price), which amounted to about 12% of the fund's overall position. Einhorn always confirmed that AAPL is the largest position in its fund. Einhorn is completely invested in this stock and would go out of his way to raise the stock value. Einhorn is so bullish on this company that he came out last summer saying that he expected AAPL should eventually become a trillion dollar company in market cap.
At this point, Einhorn is taking his AAPL preferred stock idea to the media, pitching his idea on Bloomberg News this morning and releasing his idea to other media outlets. He looking to band together some shareholders to send the Apple board a message, and at a minimum, this should get the attention of the Apple board and at least get a conversation started.
a
As of November of last year, the Greenlight Capital has about one million shares in their position (~$450M at today's price), which amounted to about 12% of the fund's overall position. Einhorn always confirmed that AAPL is the largest position in its fund. Einhorn is completely invested in this stock and would go out of his way to raise the stock value. Einhorn is so bullish on this company that he came out last summer saying that he expected AAPL should eventually become a trillion dollar company in market cap.
At this point, Einhorn is taking his AAPL preferred stock idea to the media, pitching his idea on Bloomberg News this morning and releasing his idea to other media outlets. He looking to band together some shareholders to send the Apple board a message, and at a minimum, this should get the attention of the Apple board and at least get a conversation started.
a
Comment