| Hedge fund shortseller Chanos bets against Cheniere Energy -CNBC | |
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(Adds additional Chanos comments, details on Icahn's Cheniere stake) NEW YORK, Sept 9 (Reuters) - Widely followed hedge fund shortseller Jim Chanos said on Wednesday he is betting against liquefied natural gas firm Cheniere Energy Inc. "We've been pretty negative for the past six months on this LNG space. We think it's a looming disaster," Chanos, founder of Kynikos Associates, said during an appearance on CNBC. His announcement that he has bet against Cheniere came after activist investor Carl Icahn reported an 8.2 percent stake in the LNG company last month. Cheniere named two Icahn Capital LP managing directors to its board days after Icahn, who is known for taking big stakes in companies and pushing for management change, took a stake in the company. Cheniere shares last traded 3.9 percent lower at $54.51. Chanos, who has a long-running bet against various Chinese companies, also said Chinese economic growth would continue to decline by about 2 percent a year. He added that investment still comprised nearly half of China's economy despite its focus on consumer-led growth. "The model is broken," Chanos said. "The fact of the matter is investment is still almost 50 percent of the economy, and they're running out of room to borrow. That's the real problem." Chanos also said he was still shorting the shares of construction and mining equipment maker Caterpillar Inc and was still bearish on the personal computer business. Chanos, who has bet against the shares of Hewlett-Packard , called HP a "backwards-looking company." (Reporting by Sam Forgione; Editing by Paul Simao)
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Cheniere Energy Inc.
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CODE : LNG |
ISIN : US16411R2085 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Cheniere Energy is a exploration company based in United states of america. Cheniere Energy is listed in United States of America. Its market capitalisation is US$ 37.8 billions as of today (€ 35.3 billions). Its stock quote reached its lowest recent point on December 31, 2001 at US$ 0.75, and its highest recent level on April 26, 2024 at US$ 159.14. Cheniere Energy has 237 656 695 shares outstanding. |