Shares of Icahn Enterprises L.P. fell another 5.6% premarket Thursday in the continued fallout from a short seller’s report that was critical of the investment arm of activist investor Carl Icahn. The stock has lost 36% of its value in the wake of the report, which accused IEP of inflating its value. The report also highlighted the existence of personal indebtedness, specifically that Icahn borrowed against shares, or units, he owned in Icahn Enterprises LP (IEP), his publicly traded investing vehicle. The personal indebtedness had been fully disclosed by Icahn in securities filings, but few on Wall Street seemed to take notice.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.