Diamond Member Pelican Press 0 Posted April 3, 2024 Diamond Member Share Posted April 3, 2024 Greenlight’s David Einhorn unveils chemicals company Solvay as top investment idea Greenlight’s David Einhorn said Wednesday at the Sohn Investment Conference in New York he has bought shares of ********* chemicals company Solvay . Solvay, which has a $2.6 billion market cap and does not trade in the U.S., is a chemicals and plastics company based Brussels, Belgium that manufactures and distributes chemical and plastics products including peroxides and soda ash. The ********* market is closed for the day. Solvay shares are down more than 3% year to date. Over the past year, they have tumbled more than 70%. “Solvay is an essential chemical company that holds the number one position across all of its markets” Einhorn said. “While all of these are thought of as commodity businesses, they are higher margin and much more stable than most commodity chemical businesses.” In 2023, Einhorn’s hedge fund gained 22.1%, net of fees and expenses, underperforming the S & P 500’s 24.2% gain last year. Notably, his fund lost 4.3% in the fourth quarter, when the broad market index rallied more than 11%, after the investor undertook a temporary buyer’s strike. Einhorn is one of the most followed hedge fund managers on Wall Street. In 1996, he founded Greenlight Capital, which went on to produce a 26% return on an annualized basis over the next decade. More recently, he has found success in short selling, as well as snapping up value stocks with buyback strategies. — CNBC’s Yun Li contributed to this report. This is the hidden content, please Sign In or Sign Up Breaking News: Investing,Wall Street,Business,Markets,Stock markets,Solvay SA,business news #Greenlights #David #Einhorn #unveils #chemicals #company #Solvay #top #investment #idea This is the hidden content, please Sign In or Sign Up 0 Quote Link to comment https://hopzone.eu/forums/topic/10313-greenlight%E2%80%99s-david-einhorn-unveils-chemicals-company-solvay-as-top-investment-idea/ Share on other sites More sharing options...
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