Carl Icahn doesn't know what to think about Valeant
Dealbook Conference
Here's what he said in an interview with CNBC on Thursday:
"I don't know enough about it to say I would short it, but I definitely would not buy it. I just don't know what - you know, when a company has these problems, I am not smart enough to know how deep they are. And so you wait."
Valeant Pharmaceuticals' stock has lost around 90% of its value since October, when a short seller accused the former hedge fund darling of accounting malfeasance. That, combined with government scrutiny over Valeant's drug price hikes, brought the stock careening down.
Eight months later with a new CEO in place, several federal and state investigations into company ongoing, and a new, untested business model, it's unclear what will happen to the company next.
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