Reported about 2 months ago
Shares of Icahn Enterprises, led by billionaire investor Carl Icahn, fell to their lowest level in nearly 21 years, dropping 14.3% to $13.62, after announcing plans to sell up to $400 million in depository units. This downturn follows recent regulatory issues, including charges for failing to disclose significant margin loans, which resulted in a $2 million penalty. The proceeds from the sale are intended for acquisitions and corporate purposes, while the company continues to face scrutiny from short-seller Hindenburg Research over its financial practices.
Source: YAHOO