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SunEdison Shares Higher Following Report Activist David Einhorn Could Get Board Seat

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SunEdison Shares Higher Following Report Activist David Einhorn Could Get Board Seat
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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.

Related Link: Why Tesla, SunEdison, FitBit, GoPro, Weight Watchers And U.S. Steel Are Screaming "Short Squeeze"

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Posted-In: David Einhorn Greenlight Capital SunEdison Sunedison Board Of DirectorsNews Short Ideas Rumors Trading Ideas

 

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