Icahn Enterprises L.P.’s stock
IEP,
dropped almost 2% Thursday to close at a fresh 52-week low of $17. 92. The stock has languished this year after short seller Hindenburg Research published a scathing article about the company, which is the investing arm of billionaire activist investor Carl Icahn. The Nate Anderson-backed Hindenburg had accused Icahn Enterprises of overstating values and paying a dividend it could not afford. The stock immediately shed billions of dollars in market capitalization, and in August, the company slashed its dividend in half. The stock was slightly higher premarket Friday but has fallen 65% in the year to date, while the S&P 500
SPX,
has gained 13%.
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