Hindenburg Slams Carl Icahn’s IEP Stock With a Second Short Report


  • Icahn Enterprise (IEP) stock is down again today following the release an updated short report on the company from Hindenburg Research.
  • Earlier this month, Hindenburg released a scathing report on IEP, claiming that it’s fundamentals were vague and share price was largely inflated.
  • The report spurred a heated response from Carl Icahn, who recently called the firm “Blitzkrieg Research.”
A magnifying glass zooms in on the website for Icahn Enterprises (IEP).
Source: Casimiro PT / Shutterstock.com

Notorious short seller Hindenburg Research has released an updated short report on Carl Icahn’s Icahn Enterprises (NASDAQ:IEP). Today, IEP stock closed down by nearly 2%. Shares have plunged almost 40% since Hindenburg originally accused IEP of being “inflated.”

Hindenburg and Icahn are in something of a cat-and-mouse battle of retaliation at the moment. Indeed, Icahn went on the offensive following the release of Hindenburg’s May 2 short report on the company, calling the short seller “Blitzkrieg Research.” Additionally, the billionaire claimed that Hindenburg founder Nate Anderson’s tactic “is to launch disinformation campaigns to distort companies’ images, damage their reputations and bleed the hard-earned savings of individual investors.”

That isn’t the end of the Hindenburg-Icahn saga, however. This morning, Hindenburg released an updated short report on IEP stock. In it, the short seller berated Icahn for failing to address the points made in the original report. These include Icahn’s failure to disclose “basic metrics around his margin loans like loan to value (LTV), maintenance thresholds, principal amount, or interest rates.”

It’s unclear just how far this bitter contest of words will last, but for the sake of IEP investors, hopefully not much longer. Down significantly from around $50 on May 1, IEP stock currently trades for about $31 per share.

On the date of publication, Shrey Dua did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

With degrees in economics and journalism, Shrey Dua leverages his ample experience in media and reporting to contribute well-informed articles covering everything from financial regulation and the electric vehicle industry to the housing market and monetary policy. Shrey’s articles have featured in the likes of Morning Brew, Real Clear Markets, the Downline Podcast, and more.

Article printed from InvestorPlace Media, https://investorplace.com/2023/05/hindenburg-slams-carl-icahns-iep-stock-with-a-second-short-report/.

©2023 InvestorPlace Media, LLC