{"id":39391,"date":"2013-12-04T16:05:20","date_gmt":"2013-12-04T21:05:20","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=39391"},"modified":"2013-12-04T16:05:20","modified_gmt":"2013-12-04T21:05:20","slug":"cgi-group-falls-as-hedge-fund-manager-takes-short-position","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/12\/2013\/cgi-group-falls-as-hedge-fund-manager-takes-short-position.html","title":{"rendered":"CGI Group falls as hedge fund manager takes short position"},"content":{"rendered":"<p>Financial Post &#8211; Shares of CGI Group Inc , the parent of CGI Federal \u2013 the main contractor behind the glitch-plagued Healthcare.gov \u2013 slid on Wednesday after prominent short-seller Jim Chanos placed a major short position, citing among various reasons its \u201cPR mess\u201d with the rollout of the Affordable Care Act Exchanges.<\/p>\n<p>CGI Group\u2019s U.S.-listed stock dropped as much as 5.9 percent after Newsweek  first reported early Wednesday that Chanos counts the stock among his \u201clargest short positions.\u201d The stock was down 3.8 percent at $34.81 in afternoon trading.<\/p>\n<p>A 10-page memo Chanos sent recently to clients and obtained by Reuters outlines the reasons that Chanos believes CGI\u2019s corporate performance and stock price warrant heavy scrutiny.<\/p>\n<p>In the memo, Chanos cited the \u201cPR mess with the rollout of the Affordable Care Act Exchanges, which could reduce the likelihood of future government contracts\u201d and CGI\u2019s \u201cgrowing through acquisitions hides deteriorating fundamentals.\u201d<\/p>\n<p><a href=\"http:\/\/business.financialpost.com\/2013\/12\/04\/cgi-group-falls-on-report-that-hedge-fund-is-shorting-stock\/\">Read Complete Story<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Financial Post &#8211; Shares of CGI Group Inc , the parent of CGI Federal \u2013 the main contractor behind the glitch-plagued Healthcare.gov \u2013 slid on Wednesday after prominent short-seller Jim Chanos placed a major short position, citing among various reasons [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-39391","post","type-post","status-publish","format-standard","hentry","category-syndicated"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/39391","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=39391"}],"version-history":[{"count":1,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/39391\/revisions"}],"predecessor-version":[{"id":39397,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/39391\/revisions\/39397"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=39391"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=39391"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=39391"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}