The sun shined on David Einhorn’s Green Light Capital, and not on First Solar, as the fund shorted First Solar (FSLR) from $130.14 all the way down to $33.76. It turned out to be Green Lights’ largest winner of the year. Einhorn called the First Solar trade “one of the most profitable shorts in the history of its fund”, which is saying a lot for a firm known for huge short positions in companies that they hold on to for sometimes years.
Here’s the six month chart for First Solar. Einhorn shorted First Solar a bit earlier than this but you get the idea – the stock only went down once he started to short it. Heck of a trade. Full Green Light Capital letter is here.
So, now that Einhorn has exited the short on First Solar, is it time to go long the stock? What do you think?