KiOR Inc (NASDAQ:KIOR), RadioShack Corporation (NYSE:RSH) and BIOLASE Inc (NASDAQ:BIOL) are today’s top-gaining billionaire stock picks. On the losing end are NII Holdings Inc (NASDAQ:NIHD), dELiA*s, Inc. (NASDAQ:DLIA) and Enzon Pharmaceuticals Inc (NASDAQ:ENZN).
Warren Buffett: If You Own A Good Business, Keep It
Buying private businesses is easier than acquiring public firms, and investors should avoid selling good investments at all costs, according to the Oracle of Omaha, Warren Buffett. Q2 2020 hedge fund letters, conferences and more In an interview with CNBC in March 2013, Buffett was asked if he was looking at any businesses, in particular, Read More
George Soros Picks Climb
KiOR Inc (NASDAQ:KIOR) climbed +22.56% today. The renewable energy company has had a tumultuous go in recent weeks and ended the day trading at $0.22, well below its 52-week high of $3.10. Billionaire investor George Soros initiated a position in the company during the second quarter of this year.
RadioShack Corporation (NYSE:RSH), another embattled Soros pick, surged +16.48% today. The electronics retailer recently warned that bankruptcy could be imminent, and company CFO John Feray has submitted his resignation – in other words, things aren’t looking good. RSH is down -59.23% YTD.
Up +10.3% for the day, BIOLASE Inc (NASDAQ:BIOL) takes the last spot on today’s list of market gainers. The medical technology company is currently in the midst of a management overhaul aimed at turning things around. BIOL is yet another Soros holding.
NII Plunges on Bankruptcy News
NII Holdings Inc (NASDAQ:NIHD) plummeted -36.59% today after making a bankruptcy protection filing in New York. The Nextel operator in Latin America hopes to restructure debt with creditors and turn them into shareholders. NIHD is down -96.98% in 2014 and is a new Q2 buy for George Soros.
dELiA*s, Inc. (NASDAQ:DLIA) slipped -15.65%, putting its YTD losses at -69.3%. Tiger Global initiated a 3.4-million-share position in the retailer in Q4 2013 and is still waiting for the investment to pay off.
Enzon Pharmaceuticals dipped -13.33% today. The biopharmaceutical company has been in Carl Icahn’s investment portfolio across several quarters and is a new Q2 acquisition for George Soros (it is one of just a handful of holdings in which the billionaires overlap). Despite today’s dip, ENZN is up +23.28% year-to-date.