This week, Mark Hemingway of the Washington Examnier reported that George Soros owns over 11,000 shares of OSI Systems, the parent company of Rapiscan, which manufactures the controversial TSA scanners. But a search today reveals that Soros has divested himself of all those shares.
First, Hemingway's report from Tuesday:
As for the company’s other political connections, it also appears that none other than George Soros, the billionaire funder of the country’s liberal political infrastructure, owns 11,300 shares of OSI Systems Inc., the company that owns Rapiscan. Not surprisingly, OSI’s stock has appreciated considerably over the course of the year. Soros certainly is a savvy investor.
Media Matters, the liberal media watchdog funded by Soros, quickly seized on Hemingway's article and mocked him, saying that 11,3000 shares are only "six one-hundredths of one percent" of the company's total stock. It included the following screen shot showing the investment:
So what happened between yesterday and today? Did the website simply update its information? Did it have the information wrong? Did Soros start feeling the heat and sell off his shares? Hemingway, who first reported the stock holdings, weighs in:
It would be nice if he did this as a response to public pressure, but it seems equally likely that as an investor he simply realized the political tide was turning against the company and the stock may drop as a result.
Either way, it's all very interesting.
The Blaze spoke with a representative from gurufocus.com, the site referenced by Hemingway and Media Matters. According to the representative, Soros owned the OSIS stock at the end of the second quarter and sold it during the third quarter. That puts the sale sometime between July 1 and September 30. The representative said the site first updated the information yesterday, which explains the change in the amount of stock owned.