Hindenburg's Short Report Causes Icahn's Empire to Plummet
TL;DR Summary
Short investor Hindenburg Research accused Icahn Enterprises LP (IEP) of overvaluing its holdings and relying on a “Ponzi-like” structure to pay dividends, leading to a 20% drop in the shares of activist investor Carl Icahn’s firm. Hindenburg said IEP’s units are overvalued by more than 75% and that “IEP trades at a 218% premium to its last reported net asset value (NAV), vastly higher than all comparables.”
Topics:business#carl-icahn#finance#hindenburg-research#icahn-enterprises-lp#short-investor#valuation
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- Battle of the Activist Investors: Hindenburg Shorts Icahn Enterprises The Wall Street Journal
- Hindenberg's critical Carl Icahn report leads shares to plummet Deccan Herald
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