Dick's Sporting Goods Falls on Einhorn Comments at Ira Sohn

Noted value investor, short-seller, and hedge fund manager David Einhorn presented at the influential Ira Sohn Investment Conference on Wednesday. As usual, Einhorn's speech moved the markets. When the Greenlight Capital manager did not mention Herbalife

as a potential short candidate, that stock skyrocketed. Herbalife shares finished up 16.66% to $49.51 and has added another 6% in the after hours to $52.64. Previously, HLF had plunged after Einhorn asked some pointed question on an earnings conference call. The presence of the hedge fund manager on the call was enough to spook investors who had feared that Einhorn may be targeting the company on the short side. Despite the big gain in HLF on Wednesday, the stock is still down more than 27% over the last month. Einhorn also spoke about Amazon.com

. He said that the company was difficult to value and that Amazon may continue to sacrifice short-term profits in order to build the company for the long-term. He also said that Amazon is doing a good job of taking market share from other retailers. In particular, Einhorn commented that Dick's Sporting Goods

may see its business erode as Amazon makes inroads into its market. This caused shares of Dick's to plunge near the close of trading on Wednesday. The stock finished the day down 4.10% to $48.00. In the after hours, DKS has lost another 0.90% to $47.57.