Tags: Greenlight | Einhorn | Core | Labs | Shares | Stocks

Greenlight's Einhorn Calls Core Labs Shares 'Way Overvalued'

Image: Greenlight's Einhorn Calls Core Labs Shares 'Way Overvalued'
(Corelabs.com)

Tuesday, 09 May 2017 07:47 AM

Billionaire investor David Einhorn called energy services provider Core Laboratories substantially overvalued and said its share price could drop to $62.

Speaking at the annual Sohn Investment Conference in New York, Einhorn stopped short of saying exactly how he was positioned but he has often presented so-called short ideas, including a bet against fracking companies in 2015.

Core Lab shares began dropping as Einhorn kept talking, saying the company's business is not a secular growth story but a cyclical business and that oil prices are unlikely to rally sharply. The stock ended the day down 2.36 percent at $110.75. 

© 2017 Thomson/Reuters. All rights reserved.

 
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Billionaire investor David Einhorn called energy services provider Core Laboratories substantially overvalued and said its share price could drop to $62.
Greenlight, Einhorn, Core, Labs, Shares, Stocks
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2017-47-09
Tuesday, 09 May 2017 07:47 AM
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