Repros Therapeutics Inc (NASDAQ:RPRX), Sears Holdings Corp (NASDAQ:SHLD) and Allied Nevada Gold Corp. (NYSEMKT:ANV) are among the top-gaining billionaire stock picks of the day. On the losing end are Extended Stay America Inc (NYSE:STAY), American Superconductor Corporation (NASDAQ:AMSC) and Arista Networks Inc (NYSE:ANET).
David Einhorn Buys Three New Stocks: These Are The Names And Theses (Q3 Letter)
David Einhorn's Greenlight Capital funds returned 5.9% in the third quarter of 2020, compared to a gain of 8.9% for the S&P 500 in the same period. This year has been particularly challenging for value investors. Growth stocks have surged as value has struggled. For Greenlight, one of Wall Street's most established value-focused investment funds, Read More
Repros Therapeutics Inc (NASDAQ:RPRX) surged +47.13% following an FDA meeting regarding its new drug application submission for Androxal. In the Farallon Capital portfolio across several quarters, RPRX has gained +47% over the past five days, though it’s still down -49.07% year-to-date.
The share price of Sears Holdings Corp (NASDAQ:SHLD) climbed +39.06% in the wake of news that it may sell some of its stores to a real estate investment trust to raise cash. The gain comes as relief to billionaire shareholders Edward Lampert and Bruce Berkowitz, who have witnessed SHLD’s share price declined -20.65% over the past year.
Allied Nevada Gold Corp. (NYSEMKT:ANV) is also ending the week on a high note, its price climbing +16.82%. The long-time John Paulson pick took a dive this week after missing expectations on earnings, and despite today’s jump, it has still lost -28.27% over the past five days.
Arista Networks Stumbles but Remains Strong Long
Extended Stay America Inc (NYSE:STAY) plummeted -22.34% on the heels of its Q3 results. With 47.66 STAY shares in his investment portfolio as of Q2, John Paulson is taking a hit on this one. The hotel operator is down -31.05% YTD.
American Superconductor Corporation (NASDAQ:AMSC) dipped -12.51% in the wake of its quarterly earnings report and the announcement of a common stock offering to a single investor. The energy technologies company, a new Q2 acquisition for billionaire investor George Soros, has slipped -34.51% in the past three months.
The share price of Arista Networks Inc (NYSE:ANET) fell -11.21% today despite beating expectations with its earnings report this week. Both Steve Mandel and Leon Cooperman initiated positions in the company during the second quarter of the year and despite today’s loss have likely posted gains on the stock.