Greenlight Capital’s Recent Struggles Continue in November

December 3, 2019 | Hedge Funds, Investments, News

The fund dropped 1.8% in November.

Greenlight Capital saw its fourth-quarter woes continue last month. According to Institutional Investor, the value hedge fund dropped 1.8% in November. That decline follows a 6% drop for the fund in October.

The fund is still up 14.1% for the year. It had a very strong first half to 2019.

However, Greenlight Capital has been losing money in recent months on a bet against Tesla stock. That ongoing battle against Tesla CEO Elon Musk has generated headlines for the media, and headaches for investors.

Greenlight Capital Versus Elon Musk

Tesla stock has pushed higher in recent months after a surprise third-quarter earnings report. However, the stock did see a big drop after an unsuccessful demo of a new Cybertruck. Although Musk claims he has received 250,000 preorders of the truck, the firm faces challenges. Recently, Einhorn requested information about alleged discrepancies in Tesla’s accounting practices. Einhorn said he has not heard back. He wants to conduct a tour of the company’s production facilities and meet with CFO Zack Kirkhorn.

This recent dustup follows a war of words that has continued all year. In August, Einhorn demanded that Musk resign after a Business Insider report tracked the company’s efforts to inspect all solar panels for faulty connectors that caused rooftop fires.

Musk also previously sent a pair of “short shorts” to Einhorn.

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.

Alt Insights

January 16, 2020

ESG: Lately-turned Tesla Bull Jim Cramer Adds Fink To The Mix

ESG: Lately-turned Tesla Bull Jim Cramer Adds Fink To The Mix

Latest Alternative Investment News

Private Equity: Lexington Partners Raises $14 Billion for Ninth Fund
January 22, 2020     Investments, News, Private Equity

Lexington Partners announced the closing of Lexington Capital Partners IX which raised $14 billion of commitments. Lexington Capital is one of the largest funds that invest in private equity and…

ESG: Citigroup Social Impact Fund Hits $150 Million
January 22, 2020     Alternative Investments, Investments, News

The details around the Citigroup social impact fund emerged this week. The bank announced it funded a $150 million social impact fund. The fund will invest in private companies that…

Next Generation Technology Growth Fund II Closes at $2.2 Billion
January 21, 2020     Investments, News, Private Equity

The KKR Next Generation Technology Growth Fund II has closed. KKR announced a $2.2 billion fund dedicated to growth equity investment opportunities in the technology space in North America, Europe,…

Blackstone CEO Steve Schwarzman: Fewer Things to Buy Today for Private Equity
January 21, 2020     Investments, Latest News, News, Private Equity

Blackstone CEO Steve Schwarzman confirmed our concerns about dry powder and higher valuations during an interview at the World Economic Forum. Schwarzman discussed the lack of opportunities with CNBC. The…