Its only a matter of time before buyers come back to burn those shorts. It's happened before, many a time.
http://www.streetinsider.com/13Ds/Carl Icahn Goes After Jim Chanos Jugular in Cheniere Energy (LNG)/10890394.html
Cheniere Energy (NYSE:
LNG) is notably higher in after-hours trading Monday (+2.8%) after billionaire hedge fund manager Carl Icahn disclosed he raised his stake in the LNG provider. Notably, Mr. Ichan was buying after fellow hedge funder Jim Chanos disclosed his short publicly on CNBC.
Data from his amended 13D showed Icahn increased his stake from 19,353,530 shares to 22,682,159 shares. He now owns 9.59 percent of the outstanding shares, up from 8.18 percent. Icahn's latest activity started on September 9th, which is the day famed short-seller Jim Chanos went on CNBC and
called the stock a "looming disaster."
Icahn is no stranger to taking opposing views to fellow hedge fund mangers. In the past, Mr. Icahn and Bill Ackman battled it out on Herbalife (NYSE:
HLF)... Icahn long and Ackman short. Although the two sides have made up on a personal level, the battle wages in HLF.
Likewise, while it is unclear who will win the battle over LNG, Mr. Icahn is showing he will not be standing by idle.
Some are even suggesting Icahn may try to force a short squeeze, as his involvement with HLF initially did.
