“I didn’t know ‘Mean Girls’ had a Wall Street edition,” Jonathan Bush said an in interview with the Wall Street Journal, in response to Greenlight Capital’s bet against athenahealth,1 announced last week at the Ira Sohn Investment Conference. Bush mounted an equally interesting defense of his company yesterday on CNBC, when he said: Read more »
Jonathan Bush is not in the business processing outsourcing business, or the enterprise software business, or the software-as-a-service business. (He’s in the software-enabled services business, whatever that means.) And the Athenahealth CEO is certainly not in the stock-valuation business.
Still, the nephew and cousin of presidents is pretty sure that David Einhorn meant to say that Athena stock—already trading at a frothy 100-times earnings—“could easily soar 800% or more” when he actually said “could easily fall 80% or more.” Well, maybe not that sure, but all the same. Read more »