• Home
  • Politics
  • Health
  • World
  • Business
  • Finance
  • Tech
  • More
    • Sports
    • Entertainment
    • Lifestyle
What's Hot

Short and Funny Sayings for a Happy Summer with Friends

May 9, 2025

Trump Announces First Post-Tariff Trade Deal

May 8, 2025

100 Funny Father’s Day Quotes for Hilariously Relatable Humor (and Plenty of Love Too)

May 8, 2025
Facebook Twitter Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
Friday, May 9
Patriot Now NewsPatriot Now News
  • Home
  • Politics

    Security video shows brazen sexual assault of California woman by homeless man

    October 24, 2023

    Woman makes disturbing discovery after her boyfriend chases away home intruder who stabbed him

    October 24, 2023

    Poll finds Americans overwhelmingly support Israel’s war on Hamas, but younger Americans defend Hamas

    October 24, 2023

    Off-duty pilot charged with 83 counts of attempted murder after allegedly trying to shut off engines midflight on Alaska Airlines

    October 23, 2023

    Leaked audio of Shelia Jackson Lee abusively cursing staffer

    October 22, 2023
  • Health

    Disparities In Cataract Care Are A Sorry Sight

    October 16, 2023

    Vaccine Stocks—Including Pfizer, Moderna, BioNTech And Novavax—Slide Amid Plummeting Demand

    October 16, 2023

    Long-term steroid use should be a last resort

    October 16, 2023

    Rite Aid Files For Bankruptcy With More ‘Underperforming Stores’ To Close

    October 16, 2023

    Who’s Still Dying From Complications Related To Covid-19?

    October 16, 2023
  • World

    New York Democrat Dan Goldman Accuses ‘Conservatives in the South’ of Holding Rallies with ‘Swastikas’

    October 13, 2023

    IDF Ret. Major General Describes Rushing to Save Son, Granddaughter During Hamas Invasion

    October 13, 2023

    Black Lives Matter Group Deletes Tweet Showing Support for Hamas 

    October 13, 2023

    AOC Denounces NYC Rally Cheering Hamas Terrorism: ‘Unacceptable’

    October 13, 2023

    L.A. Prosecutors Call Out Soros-Backed Gascón for Silence on Israel

    October 13, 2023
  • Business

    Trump Announces First Post-Tariff Trade Deal

    May 8, 2025

    Electric Vehicle Sales Nosedive As GOP Takes Buzzsaw To Biden’s Mandate

    May 7, 2025

    Tyson Foods Announces It Will Bend The Knee To Trump Admin’s New Rules

    May 7, 2025

    Federal Reserve Holds Interest Rates Steady Despite Pressure From Trump

    May 7, 2025

    ‘Wait Them Out’: John Kennedy Tells Larry Kudlow One Lie He Suspects China’s Telling US

    May 7, 2025
  • Finance

    Ending China’s De Minimis Exception Brings 3 Benefits for Americans

    April 17, 2025

    The Trump Tariff Shock Should Push Indonesia to Reform Its Economy

    April 17, 2025

    Tariff Talks an Opportunity to Reinvigorate the Japan-US Alliance

    April 17, 2025

    How China’s Companies Are Responding to the US Trade War

    April 16, 2025

    The US Flip-flop Over H20 Chip Restrictions 

    April 16, 2025
  • Tech

    Cruz Confronts Zuckerberg on Pointless Warning for Child Porn Searches

    February 2, 2024

    FTX Abandons Plans to Relaunch Crypto Exchange, Commits to Full Repayment of Customers and Creditors

    February 2, 2024

    Elon Musk Proposes Tesla Reincorporates in Texas After Delaware Judge Voids Pay Package

    February 2, 2024

    Tesla’s Elon Musk Tops Disney’s Bob Iger as Most Overrated Chief Executive

    February 2, 2024

    Mark Zuckerberg’s Wealth Grew $84 Billion in 2023 as Pedophiles Target Children on Facebook, Instagram

    February 2, 2024
  • More
    • Sports
    • Entertainment
    • Lifestyle
Patriot Now NewsPatriot Now News
Home»Finance»Carl Icahn’s faces short report from Hindenburg Research
Finance

Carl Icahn’s faces short report from Hindenburg Research

May 3, 2023No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Carl Icahn's faces short report from Hindenburg Research
Share
Facebook Twitter LinkedIn Pinterest Email

Carl Icahn’s Icahn Enterprises’ (IEP) stock hit a 52-week low after the famed activist investor became the target of a short-seller report accusing him of what he often criticizes others for: mismanagement.

Shares of Icahn Enterprises fell as much as 25% percent in afternoon trading after Hindenburg Research published the report.

Hindenburg highlighted IEP’s 15.8% dividend yield, which it said is the largest of any U.S. large cap name. Hindenburg argues that achieving that yield isn’t being done through legal means.

“Icahn has been using money taken in from new investors to pay out dividends to old investors,” Hindenburg wrote in its research note. “Such Ponzi-like economic structures are sustainable only to the extent that new money is willing to risk being the last one ‘holding the bag.'”

The report also said that “we think Icahn, a legend of Wall Street, has made a classic mistake of taking on too much leverage in the face of sustained losses: a combination that rarely ends well.”

In a statement on Wednesday, Icahn Enterprises said it was operating from “a position of strength,” with about $2 billion in cash and cash equivalents on its balance sheet as of March 31.

“We believe the self-serving short seller report published by Hindenburg Research today was intended solely to generate profits on Hindenburg’s short position at the expense of IEP’s long-term unit-holders. Icahn said in the statement. “We stand by our public disclosures and we believe that IEP’s performance will speak for itself over the long term as it always has.”

Shares were down more than 18% Wednesday. The company is expected to report first quarter earnings on Friday followed by a conference call at 10 a.m. ET.

See also  FDIC Chairman Resigns After Agency Rocked By Workplace Harassment Report

Icahn Enterprises is a holding company operated by Icahn, who along with his “affiliates” owns 85% of Icahn Enterprises, according to a 10-K filing at the end of 2022. Known as the “Corporate Raider,” Icahn built allure around himself as an activist investor, buying up stock in companies and angling for change. Icahn’s other recent activist attempts include McDonald’s, Kroger and Illumina.

That has entailed spats with some high-profile names, from prominent Silicon Valley entrepreneur Marc Andreessen to investor Bill Ackman.

Ackman, who Icahn once jousted with on live television, clapped back at Icahn via Twitter on Tuesday.

For its part, Nathan Anderson-led Hindenburg Research has also been seen as a leader in the short-selling space, often calling management decisions into question. In 2021, Hindenburg called out Nikola for defrauding investors which eventually led to federal charges.

Since, Hindenburg has targeted other companies for fraudulent activities such as Block (SQ).

Josh is a reporter for Yahoo Finance.

Click here for the latest stock market news and in-depth analysis, including events that move stocks

Read the latest financial and business news from Yahoo Finance

Carl Faces Hindenburg Icahns Report Research Short
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Short and Funny Sayings for a Happy Summer with Friends

May 9, 2025

101 Short Happy Father’s Day Quotes to Help You Express Your Gratitude and Love

May 7, 2025

110 Short Graduation Quotes for High School Seniors and University Graduates in 2025

May 5, 2025

80 Short June Quotes to Welcome This Beautiful Month and a Happy Summer

April 29, 2025
Add A Comment

Leave A Reply Cancel Reply

Top Posts

Journey Co-Founder George Tickner Dead at 76

July 7, 2023

Minnesota Bill Could Make Pedophiles A Protected Class

April 27, 2023

Mongolia and South Korea Emphasize Deeper Economic Ties 

March 2, 2023

How Generative AI Can Help With Physician Burnout

August 6, 2023
Don't Miss

Short and Funny Sayings for a Happy Summer with Friends

Lifestyle May 9, 2025

I love the beach. Just looking at the calming sea to relax. Having fun in…

Trump Announces First Post-Tariff Trade Deal

May 8, 2025

100 Funny Father’s Day Quotes for Hilariously Relatable Humor (and Plenty of Love Too)

May 8, 2025

Top 10 Benefits Of Acupuncture

May 8, 2025
About
About

This is your World, Tech, Health, Entertainment and Sports website. We provide the latest breaking news straight from the News industry.

We're social. Connect with us:

Facebook Twitter Instagram Pinterest
Categories
  • Business (4,110)
  • Entertainment (4,220)
  • Finance (3,202)
  • Health (1,938)
  • Lifestyle (1,627)
  • Politics (3,084)
  • Sports (4,036)
  • Tech (2,006)
  • Uncategorized (4)
  • World (3,944)
Our Picks

REPORT: Natalie Portman And Husband Are Separating After 11 Years Due To His Alleged Affair

August 8, 2023

Montana governor expected to sign bill completely banning new downloads of TikTok, company decries ‘egregious government overreach’

April 15, 2023

Migrants Damage New Trucks on Train near Border in Texas

March 22, 2023
Popular Posts

Short and Funny Sayings for a Happy Summer with Friends

May 9, 2025

Trump Announces First Post-Tariff Trade Deal

May 8, 2025

100 Funny Father’s Day Quotes for Hilariously Relatable Humor (and Plenty of Love Too)

May 8, 2025
© 2025 Patriotnownews.com - All rights reserved.
  • Contact
  • Privacy Policy
  • Terms & Conditions

Type above and press Enter to search. Press Esc to cancel.