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).
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Gates Capital Management's ECF Value Funds have a fantastic track record. The funds (full-name Excess Cash Flow Value Funds), which invest in an event-driven equity and credit strategy 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.
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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.
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