Bloomberg
David Einhorn, president and co-founder of Greenlight Capital Inc., wrote that he's sold his stock in Microsoft Corp., citing what he calls "mismanagement."
Hedge fund manager David Einhorn has reportedly sold his long-term investment in Microsoft.
Einhorn, who runs Greenlight Capital, wrote in a note that he sold his 7-year-old share in the company because Windows 8 was a flop and because a ?decade of mismanagement has put Microsoft at risk of becoming a shrinking company.?
While shares in Microsoft are hanging fairly steady Friday, the company?s stock price fell sharply last week after a fourth-quarter earnings report disappointed investors.
Microsoft is in the midst of a massive reorganization, which is aimed at improving its ability to innovate and compete.
Some have been critical of the reorganization, and others hope the recent stake in the company taken by activist investor ValueAct will have more of an influence on Microsoft?s share price.
Microsoft has not responded to a request for comment.
Emily Parkhurst covers the technology industry for the Puget Sound Business Journal/TechFlash.
Source: http://feedproxy.google.com/~r/TechFlash/~3/dJht5yrp0uM/hedge-fund-run-by-david-einhorn-sells.html
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