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Greenlight’s Einhorn Exits GM, Doubts Tesla Board’s Independence

David Einhorn
David EinhornPhotographer: Alex Flynn/Bloomberg
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Hedge fund manager David Einhorn summed up a five-year investment in General Motors Co. as “a disappointment” and criticized Tesla Inc. for the second time in as many days.

Greenlight Capital exited GM because the coronavirus pandemic has eliminated any chance the carmaker will do a minimal share repurchase this year, Einhorn wrote in a letter to investors Friday. A costly 40-day labor strike last year consumed most of the cash flow the automaker would have otherwise generated, he said.