James Chanos made his fortune by short-selling companies before the value of their stock plummeted, most notably the defunct energy firm Enron.
His latest target is CGI Group, which is the parent company of CGI Federal. CGI Federal is the lead contractor responsible for Healthcare.gov, the glitch-plagued website of the federal Obamacare insurance exchange.
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Chanos “has placed potentially lucrative bets that CGI shares will fall in value,” Newsweek reported on Wednesday, citing “persons briefed on the matter.”
CGI is “among his ‘largest short positions,’” Newsweek reported.
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