David Einhorn Negative on Green Mountain Coffee

Today, shares of Green Mountain Coffee Roasters GMCR are under pressure after hedge fund manager David Einhorn spoke negatively about the company at the Value Investor Congress. Shares of the company spiked over 13% lower. Einhorn said that the company "burns cash" and that the company's pending key patent expiration is an issue. He believes the company's "monopoly" K-Cup prices will likely be lost by next September. He continued to say that its third quarter revenue may be "too good to be true". At last check, shares of Green Mountain Coffee are down about 12% at $79.97.