Short-seller Jim Chanos bets against two health-care companies: They ‘might be worth nothing’

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Short-seller Jim Chanos told CNBC on Thursday that he’s betting against health-care stocks Envision Healthcare and Mednax.

“I’m betting these companies might be worth nothing,” the founder and president of Kynikos Associates told CNBC’s “Squawk Box.”

Shares of Envision Healthcare fell more than 5 percent in premarket trade after the news, while Mednax’s stock was down more than 8 percent.

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Envision Healthcare and Mednax did not immediately respond to CNBC’s requests for comment.

Kynikos Associates, with more than $2 billion in assets under management, saw its short-only fund down 12 percent last year, according to sources familiar with the matter. Kynikos’ hedge fund was up 22 percent last year, sources said, adding both funds are about flat in 2018.

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Chanos: Winter is coming to US health-care system from CNBC.

www.cnbc.com/2018/04/26/short-seller-jim-chanos-bets-against-two-health-care-companies.html

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