Jim Chanos Short Coinstar, Dell
On CNBC's Squawk Box, noted short seller and hedge fund manager Jim Chanos appeared to talk about some of his positions.
Chanos stated that he is short Coinstar (NASDAQ: CSTR) because he believes that their business is fundamentally flawed over the longer term. Chanos stated that while Coinstar is likely to make a fair amount of cash in the near-term, the trend is to get away from DVDs and move towards streaming media. Coinstar is still reliant on DVD rentals with its Red Box kiosk, which will eventually become obsolete over the course of the next few years.
Chanos also spoke about the PC and the tablet revolution. He stated that it is clear that the trend is moving towards tablets, and that laptops are losing out in importance. He stated that he was short Dell (NASDAQ: DELL) on that trend.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.