BOSTON, Oct 20 (Reuters) - Shares in Alpha Bank surged more than 13 percent on Monday after hedge fund manager David Einhorn recommended betting on Greek banks and against French debt.
Speaking at the annual Robin Hood Investors Conference in New York, Einhorn recommended going long Alpha Bank and Piraeus Bank with warrants and shorting French debt as a hedge, according to a person attending the conference.
Reporters were not permitted to attend the two days of sessions where prominent hedge fund managers including Einhorn, Seth Klarman, Carl Icahn and Daniel Loeb were scheduled to speak.
At the conference, Einhorn also spoke about Sunedison , a stock he already owns, and going long solar stocks. Sunedison makes silicon wafers for the semiconductor industry and solar wafers.
Sunedison’s share price jumped 7.46 percent to $17.72, while Alpha Bank was up 12.83 percent, trading at 20 cents.
Bets made by Einhorn’s New York-based Greenlight Capital are always widely followed and the manager has a reputation of being able to push a stock price higher and lower by simply uttering its name. (Reporting by Svea Herbst-Bayliss; Editing by David Gregorio)