Carl Icahn just doubled down on Hertz
Thomson Reuters
That's according to a new filing with the Securities and Exchange Commission.
Icahn doubled his holding from about 15.6% to about 33.7%, according to Bloomberg.
Hertz shares collapsed nearly 50% on Tuesday following the release of third-quarter earnings.
As Business Insider's Bob Bryan reported, the company missed earnings per share significantly, posting adjusted earnings of $1.50 per share against analyst estimates of $2.73 per share. Revenue also whiffed, albeit by less, at $2.54 billion against projections of $2.59 billion.
CEO John Tague said in a press release that the company is still aiming to cut costs in the long run, but recent events impacted the quarterly performance.
Following the news, the stock has lost nearly half of its value, falling 49% to $18.19 a share.
Icahn first bought into Hertz in early 2014.
- 7 cold destinations in India to escape the summer heat in May
- WhatsApp working on feature that will restrict users from taking screenshots of profile pictures: Report
- Having AI knowledge might increase your chances of landing job interviews, UK study finds!
- After one death due to West Nile Virus in Kerala, Tamil Nadu deploys Mobile Medical Teams in Coimbatore to check disease spread
- "Happy to be back," says Delhi CM Arvind Kejriwal; To hold press conference, road show today
- Nothing Phone (2a) blue edition launched
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market