Third Point, the activist hedge fund run by Daniel Loeb, has been busy for the last few days of 2020. Despite tremendous turmoil at the start of the pandemic, it has made great returns – Reuters says it is up 12.3% since the start of the year. and the company clearly sees growing potential in the technology sector.

First of all, we learned yesterday in the Wall Street Journal through Asa Fitch that the hedge fund had sent an extremely important letter to shareholders to Intel chairman Omar Ishrak, demanding major changes in its management after the American chipmaker had fallen dramatically behind its competitors in recent years had fallen behind. As I noted in TechCrunch’s 2020 Semiconductor Industry Summary, Intel has a pivotal moment next year, and now with more activist pressures from hedge funds, the urge to fix Intel’s underlying issues is mounting.

Third Point has acquired a $ 1 billion stake in the company, according to the Journal. Intel’s stock rose 5% …



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