CVR Energy (CVI) Volatility Nearly Double; Icahn Now Holds 80% of Co. Shares
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CVR Energy (NYSE: CVI) volatility is much higher Monday following disclosure late Friday that activist investor Carl Icahn now holds 70,184,975 shares of the Company -- or about 80 percent of all outstanding -- following expiration of the recent $30 per share tender offer.
Implied volatility is up 95 percent from Friday's close and at 114.6 percent of its historical average.
CVR shares have been moving higher all day, now up 2.3 percent on the session. Volume is a little lighter on the session.
Shares continue to trade comfortably above the 50-day SMA and 200-day DMA.
Implied volatility is up 95 percent from Friday's close and at 114.6 percent of its historical average.
CVR shares have been moving higher all day, now up 2.3 percent on the session. Volume is a little lighter on the session.
Shares continue to trade comfortably above the 50-day SMA and 200-day DMA.
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