Carl Icahn’s company’s stock falls another 8% as short seller Hindenburg says latest disclosures raise more questions about margin loans

Icahn Enterprises LP’s stock IEP fell another 8% premarket Thursday, after short seller Hindenburg Research issued another report on Carl Icahn’s investing arm, saying disclosures made Wednesday raised more questions about Icahn’s margin loans from the company. Nate Anderson-backed Hindenburg published a report on IEP on May 2, accusing it of inflating asset values and questioning Icahn’s own borrowing using his units as collateral.

Nate Anderson-backed Hindenburg published a report on IEP on May 2, accusing it of inflating asset values and questioning Icahn’s own borrowing using his units as collateral. Icahn owns 84% of IEP and disclosed that he had pledged more than 181 million units, or 60% of his holdings, for margin loans in a 2022 SEC filing. On Wednesday, IEP said that pledge had increased to 202 million units, which Hindenburg estimates was valued at $6.5 billion as of Wednesday’s close.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Carl Icahn's company stock falls as much as 20% after prosecutors seek financial informationRegulators contacted Icahn Enterprises last Wednesday seeking information about corporate governance and other materials.
Source: CNBC - 🏆 12. / 72 Read more »

Icahn Enterprises stock slides 9% after company swings to first-quarter lossIcahn Enterprises L.P., the investing arm of billionaire activist investor Carl Icahn, said Wednesday it swung to a loss in the first quarter.
Source: MarketWatch - 🏆 3. / 97 Read more »