Envision, Mednax sink after Chanos says shares may be worth nothing - InvestingChannel

Envision, Mednax sink after Chanos says shares may be worth nothing

Shares of Envision Healthcare (EVHC) and Mednax (MD) are sinking after Kynikos Associates founder Jim Chanos announced on CNBC that he’s short both names. Chanos initiated his short position in Envision during the middle of 2017 and his Mednax short earlier this year. Both stocks may be “worth nothing,” Chanos said during a two hour appearance on CNBC. He believes the companies, which are both exploring potential sales, are “accounting games.” Envision in premarket trading is down 4% to $36.50 while Mednax is down 8% to $48.55. The famed short seller also disclosed for the first time that his fund has short positions in Restaurant Brands (QSR) and Dunkin’ Brands (DNKN). Chanos added that he closed his short position in Alibaba (BABA) and has no positions in Chipotle Mexican Grill (CMG) and Starbucks (SBUX).