Icahn Hit by Hindenburg Short as Activist Becomes Target
- Famed activist says firm’s performance will speak for itself
- Icahn shares slump 20% in biggest one-day decline on record
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Carl Icahn, the famed activist investor who’s made a career out of starting corporate brawls, found himself on the receiving end of criticism Tuesday after Hindenburg Research disclosed a short call against his investment firm.
Shares of Icahn Enterprises LP closed down 20% in the biggest one-day drop on record, after Hindenburg claimed in a lengthy report that the company is overpriced, and said it found evidence of inflated valuations for some of its assets.