NEW YORK (Reuters) - 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