Here's Why Icahn Enterprises Units Gained 29% in June
Icahn Enterprises (NASDAQ: IEP) rebounded last month following a massive sell-off in May caused by chatter from high profile short-sellers and activist investors. The master limited partnership (MLP) climbed 29% in June, according to S&P Global Market Intelligence, after its distribution yield climbed above 35%.
There were no press releases, securities filings, or major news regarding Icahn Enterprises in June. Instead, the stock moved higher as it looked for equilibrium after a tumultuous May.
Hindenburg Research, which is notorious for publishing research pieces on stocks that its team has deemed overvalued, had its sights set on Icahn Enterprises. It released a report on May 2 with some seriously negative assertions.
Source Fool.com
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