Icahn (IEP) Investors Capture Herbalife (HLF) Profit Ahead of Time
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Herbalife (NYSE: HLF) shareholders are loving Carl Icahn's 12.98 percent stake in the company. Disclosed after markets closed Thursday night, the move is busting through a few shorts and sending Herbalife shares back over $40.
What do Icahn investor's think? Action in Icahn Enterprises L.P. (Nasdaq: IEP) might suggests that they loved the deal, before it was disclosed. Though a lightly-traded stock, volume on Thursday's session was about 164,100 shares, versus the daily average of about 50,000 shares. Shares also popped over 10.5 percent to close at $87.15... a significant move for an $8 billion firm.
Notably, Icahn Enterprises shares started to move higher this week following the announcement of a $1 distribution last Monday.
Today, a little profit taking is happening, with Icahn Enterprises shares off about 7 percent.
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What do Icahn investor's think? Action in Icahn Enterprises L.P. (Nasdaq: IEP) might suggests that they loved the deal, before it was disclosed. Though a lightly-traded stock, volume on Thursday's session was about 164,100 shares, versus the daily average of about 50,000 shares. Shares also popped over 10.5 percent to close at $87.15... a significant move for an $8 billion firm.
Notably, Icahn Enterprises shares started to move higher this week following the announcement of a $1 distribution last Monday.
Today, a little profit taking is happening, with Icahn Enterprises shares off about 7 percent.
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