SAC Hammered By Chicks

Author:
Publish date:

CNBC did a quick spot earlier on poultry products company Pilgrim's Pride (PPC) being down about 38% which we wouldn't normally give a rat's ass about except when it means fewer leaf cookies for The Big Guy and in this case it does. SAC apparently owns 5,492,850 shares or 7.42%, according to a 13G filed on June 3rd. According to PPC's chart the big boy was buying when the chickens were running wild, between April 3rd and May 28th, probably pushing the market with their purchases. Now the tasty treats are getting killed by feed costs (corn), and SAC is probably out a $100M+ in a few months. But what's a unit and then some to the Big Guy? Considering it would take a monster truck to pull a crochet needle from his rectum, a lot.

Related