5/20/2023 0 Comments Carl alexandra day"Activist short attacks a few days before an issuer reports earnings are common because regulatory quiet periods can limit the issuer's ability to respond and catch them off-guard," said Josh Black, editor-in-chief of Insightia, which provides data on shareholder activism and corporate governance. IEP is scheduled to report its first-quarter earnings on Friday, restricting its ability to comment in detail on its finances in advance. The Hindenburg report has wiped $7.5 billion off Icahn's fortune, leaving him with a net worth of $10.8 billion, according to Forbes. Icahn owns about 85% of IEP and has pledged over 60% of his stake as collateral for personal loans. The company is now worth $11.5 billion, 35% less than its value on Monday before Hindenburg published its report. IEP shares hit an intraday low of $31.78 - their lowest in more than a decade. He did not respond to a request for comment on Wednesday. Icahn called the report "self-serving" and he stood by IEP's statements about its finances. Hindenburg on Tuesday accused Icahn Enterprises LP (IEP) (IEP.O) of over-valuing its holdings and relying on a "Ponzi-like" structure to pay dividends. May 3 (Reuters) - Carl Icahn's empire took another hit on Wednesday when his holding company's shares plunged further in the aftermath of a critical report from short seller Hindenburg Research, bringing the valuation drop since the short seller attacked it to more than $6 billion.
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