David Einhorn’s position in Micron Technology, Inc. (NASDAQ:MU) has been well-publicized for months, and he wasn’t the only big name to see a lot of potential in the company. Regis Philbin also identified Micron as a good bet, and now Einhorn wants the talk show host to intern at his hedge fund Greenlight Capital over the summer.
David Einhorn wants “young blood” at Greenlight
The hedge fund manager surprised CNBC‘s Fast Money by calling in during the show on Wednesday and asking to speak with Regis Philbin live on the air. He noted that Philbin picked Micron Technology, Inc. (NASDAQ:MU) before its stock price doubled. As a result, he said he felt like he could take Philbin’s advice over the summer by bringing him on as an intern.
Below is our 13F roundup for some high profile hedge funds for the three months to the end of March 2021 (Q1). Q1 2021 hedge fund letters, conferences and more The statements only include equity positions as 13Fs do not include cash and debt holdings. They also only include US equity holdings. Funds may hold Read More
“I was wondering, you know, we’re trying to get some young blood into Greenlight, some young minds, and I was wondering if maybe you want to come intern for the summer,” Einhorn said on the phone.
The 82-year-old laughed and said he’s definitely got “young blood.” Of course Philbin didn’t say whether he would take David Einhorn up on his offer, and there’s no word on what his salary might be if he did decide to intern at Greenlight Capital.
Micron soars past Philbin’s expectation
In September, Philbin said he was staying with Micron Technology, Inc. (NASDAQ:MU) and that he believed it would hit at least $20 a share. Since then, the stock has more than doubled in value, trading now at around $28 a share.
David Einhorn says he sees more potential for Micron Technology, Inc. (NASDAQ:MU), although he noted that its shares have been highly volatile. However, he said he believes Micron’s fundamentals have changed dramatically and that he still thinks consensus estimates from analysts are far too low. He also said Micron’s quality is much higher than people think and that there “is still a lot more upside to go.”
Shares of Micron Technology (NASDAQ:MU) edged up by about 1% in morning trading today.