US short seller Hindenburg Research said on Tuesday that it has a short position Icahn EnterprisesA group consisting of active investors Carl Icahn owns the majority stake.
Hindenburg said its research showed that valuations of IEP units were inflated by more than 75% and that “IEPs trade at a 218% premium to their last reported net asset value (NAV), compared to all comparables.” I have a lot more.”
“We have uncovered clear evidence of IEP’s less liquid and inflated valuation markups for private assets,” it added.
Icahn Enterprises did not immediately respond to a Reuters request for comment. Reuters could not independently verify the claims made by the short-seller in its report.
Shares of Icahn Enterprises fell 5.4% in premarket trading.
Hindenburg invests its own capital and takes short positions against the companies. After finding potential wrongdoing, the company usually publishes a report explaining the matter and betting against the target company in hopes of making a profit.
Short sellers typically sell borrowed securities with the aim of buying them back at a lower price.
Hindenburg said its research showed that valuations of IEP units were inflated by more than 75% and that “IEPs trade at a 218% premium to their last reported net asset value (NAV), compared to all comparables.” I have a lot more.”
“We have uncovered clear evidence of IEP’s less liquid and inflated valuation markups for private assets,” it added.
Icahn Enterprises did not immediately respond to a Reuters request for comment. Reuters could not independently verify the claims made by the short-seller in its report.
Shares of Icahn Enterprises fell 5.4% in premarket trading.
Hindenburg invests its own capital and takes short positions against the companies. After finding potential wrongdoing, the company usually publishes a report explaining the matter and betting against the target company in hopes of making a profit.
Short sellers typically sell borrowed securities with the aim of buying them back at a lower price.