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Short seller Hindenburg Research on Thursday initiated a short position in Icahn Enterprises LP bonds and said billionaire Carl Icahn has failed to address every key issue that it had raised.
“We are short units of Icahn Enterprises and have initiated a short position in IEP bonds,” the research report said, sending the shares of the investment firm down 6.1% in premarket trading.
Last week, Hindenburg accused the investment firm of overvaluing its holdings and operating a “Ponzi-like” structure to pay dividends. Icahn has called the report “self-serving” and vowed to fight back.
Hindenburg said Icahn’s latest disclosures raise critical new questions about margin loans and continued portfolio losses.
“We are short units of Icahn Enterprises and have initiated a short position in IEP bonds,” the research report said, sending the shares of the investment firm down 6.1% in premarket trading.
Last week, Hindenburg accused the investment firm of overvaluing its holdings and operating a “Ponzi-like” structure to pay dividends. Icahn has called the report “self-serving” and vowed to fight back.
Hindenburg said Icahn’s latest disclosures raise critical new questions about margin loans and continued portfolio losses.
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