AGO - Assured Guaranty falls as Greenlight reveals short in new investor letter

Assured Guaranty (AGO) fell 4.1% after Greenlight's David Einhorn revealed that he's short, according to a copy of a 4Q letter.Greenlight short based on original thesis the company has "several billion dollars of likely embedded losses" on its exposure to Puerto Rico. Greenlight original presented short thesis at 2018 Sohn Investment conference.Greenlight said it reached out to the SEC to look at the subjects that the hedge fund identified as problematic.Greenlight also discussed it invested in Neubase Therapeutics (NBSE) on the long side. Invested in the company a couple years ago at $3.96."While there is a long path from here to products on the market, NBSE's current market capitalization of less than $200 million prices in little chance of success. We think the rise-reward is asymmertrical."NBSE rises 3.4%.

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Assured Guaranty falls as Greenlight reveals short in new investor letter