How Does David Einhorn Feel About his RIMM Shares?

May 29, 2012
J. Webster
Comments Off on How Does David Einhorn Feel About his RIMM Shares?

David Einhorn purchased 2.9 million shares of Research in Motion last quarter, I wonder how he feels about those RIMM shares today?

Perhaps Einhorn, like Mark Cuban, isn’t really too concerned but such a small investment or trade. Einhorn’s hedge fund, Green Light Capital, has a huge position in Apple, and maybe these 2.9 million shares are just a flyer or lottery ticket. But still, for the regular person on the street, this is a huge sum.

Back in mid February, when Einhorn’s RIMM position was disclosed, it was worth about $44 million. Now, after Research in Motion announced they hired JP Morgan to look at “strategic options” and “alternatives”, it’s worth roughly $28 million, with the stock down 13% in the after hours. It’s only a paper loss of $16 million right now for Einhorn. That’s probably like a bad night of Poker for him – throwaway money that he finds behind his couch.

Here’s the ten year chart for Research in Motion. It was a good run. Just four years ago RIMM was trading for $144, now it’s under $10 a share. Remember when everyone couldn’t leave home without their CrackBerry? Remember when everyone loved the keyboard on the phone?

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