Shares of Icahn Enterprises L.P. IEP, the investment arm of billionaire activist investor Carl Icahn, jumped 9.6% in premarket trading Friday, putting them on track to snap their worst eight-day stretch in 15 years. The stock’s bounce comes after Icahn said the company will pay out $2 a share to shareholders as he assures investors the company doesn’t face a liquidity crisis. The stock has been tumbling after a short-seller report accused the company of inflating its value, which Icahn denied. The stock has plunged 41.9% amid an eight-day losing streak through Thursday, which is the longest losing streak since the eight-day streak that ended Jan. 29, 2020, and the worst eight-day performance since it sank 44.8% during the eight-day stretch that ended Oct. 8, 2008. The stock, which closed Thursday at the lowest price since May 26, 2010, has lost 40.6% year to date, while the S&P 500 SPX has gained 5.8%.
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