Reported about 2 months ago
Icahn Enterprises (NYSE:IEP) shares plummeted 7.5% following the announcement of an Open Market Sale Agreement with Jefferies, allowing up to $400 million in depositary units to be sold. This move is expected to dilute existing shareholders' ownership and has led to an 18.8% decline in stock value since the start of the year, now trading 34.8% below its 52-week high. While the market is reacting sharply, investors are left to consider if this dip presents a buying opportunity.
Source: YAHOO