Hedge fund manager David Einhorn just can’t stop slamming Seattle area companies. A few days after his Greenlight Capital fund cut its stake in Microsoft, Einhorn is back in the news talking about Amazon.
And Einhorn, who gained attention last year for calling for Microsoft CEO Steve Ballmer to step down, can’t quite figure out the Seattle online retailer.
“Over the last three years, Amazon has grown revenues from $19 billion to $48 billion,” said Einhorn, according to a report by Bloomberg News. “Growing its operating profits has been harder. Amazon’s future is a riddle.”
Riddle is actually an appropriate word to use for Amazon.com. After all, founder Jeff Bezos has publicly claimed before that the company is willing to be misunderstood for very long periods of time.
Amazon’s stock is up 12 percent over the past 12 months, but it tumbled more than two percent today to $218.77. It now has a market value of $98.3 billion.