David Einhorn is building new position in CNH Industrial, says agricultural play is ‘cheap’

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David Einhorn is building new position in CNH Industrial, says agricultural play is ‘cheap’

David Einhorn speaking in New York City on April 3, 2024.

Adam Jeffery | CNBC

Greenlight Capital’s David Einhorn said Wednesday he has taken a medium sized position in agricultural play CNH Industrial.

Speaking at CNBC’s Delivering Alpha conference in New York City, the hedge fund investor said the seller of agricultural equipment is an under-the-radar value play as the industry nears the end of a bearish cycle.

“It’s exactly the kind of situation that absolutely nobody cares about right now because it’s cheap, and the news over the next ******* of time isn’t going to be very good. Agriculture prices are low, and agricultural equipment is ending down cycle,” Einhorn said at a panel with CNBC’s Leslie Picker.

Shares of CNH popped more than 4% in extended trading following his comments.

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