David Einhorn Talks About St. Joe (JOE)

David Einhorn is out with a comment on St. Joe Company JOE, which he famously announced he was short the name at the Value Investing Congress. Einhorn says, ""There is a considerable gap between timberland and conservation values that support a single-digit share valuation for St. Joe and the current public market valuation that implies that undeveloped rural land in the Florida Panhandle is worth more than Iowa farmland. The land values don't justify the stock price. We do not believe cutting some executive compensation expenses or installing a new management team would bridge that gap." At last check, shares of St. Joe were up 48 cents to $27.85, a gain of 1.5%.