Bloomberg: Greenlight Capital’s David Einhorn is betting against popular growth stocks Amazon.com Inc. and Netflix Inc.
Amazon and Netflix both more than doubled in value last year. Einhorn, in the firm’s presentation, pointed to differences between the two companies and more established brands such as Apple Inc. and Time Warner Cable Inc.
“Analysts strain to justify ever high” prices for Amazon shares, according to Greenlight’s presentation. A wager against the Internet giant cost the investment firm 1.3 percentage points of performance last year.
Benzinga: According to Institutional Investor’s Alpha, Greenlight Capital’s David Einhorn is shorting high-flying stocks Tesla Motors (TSLA), Netflix (NFLX), and Amazon (AMZN).