NEW YORK May 5 Hedge fund manager David
Einhorn, who recently warned that he is seeing a tech bubble
developing, said on Monday that his Greenlight Capital is
betting against Athenahealth Inc.
Einhorn said shares of the company could fall 80 percent. In
the last year, the company's stock price has surged 46 percent.
Shares of Athenahealth, a provider of technology services
for medical practices, closed at $126.78 on Monday.
Einhorn said he is not betting on the company to fail, but
is simply saying the stock is at the wrong price.
Einhorn spoke at the Sohn Investment Conference, an annual
event where he unveiled his short bet against Lehman Brothers in
2008 before Lehman collapsed.
Einhorn on Monday said he would not name other stocks that
his $10 billion hedge fund is shorting.
(Reporting by Svea Herbst-Bayliss; Editing by Leslie Adler)