SunEdison Shares Higher Following Report Activist David Einhorn Could Get Board Seat
Shares of Sunedison Inc (NYSE: SUNE) were trading higher by more than 10 percent at $2.91 heading into Monday's opening bell.
Investors and traders were likely encouraged by the Wall Street Journal's report that David Einhorn's Greenlight Capital will be given a seat a SunEdison's board of directors.
Einhorn's fund owns around 8 percent of SunEdison, but is expected to appoint a director from outside of the hedge fund.
Shares of SunEdison have lost more than 40 percent since the start of 2016 and more than 85 percent over the past year.
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