Billionaire activist Carl Icahn warns the markets will have a day of ‘reckoning’ as he pulls out of Apple stock entirely
Carl Icahn sold his stake citing the risk of China’s influence on the stock
He said he was ‘still very cautious’ on the US stock market and there would be a ‘day of reckoning’ unless there was some sort of fiscal stimulus
Icahn was a huge cheerleader of Apple, acquiring a stake in the company almost three years ago, repeatedly calling the investment a ‘no brainer’
He suggested that he made roughly $2 billion off the Apple trade
Apple shares have now declined more than 10 percent this week
DailyMail.com
29 April 2016
Billionaire activist investorCarl Icahn said Thursday he had sold his entire stake in AppleInc, citing the risk of China’s influence on the stock.
Icahn, in an interview with cable television network CNBC,also said he was ‘still very cautious’ on the US stock marketand there would be a ‘day of reckoning’ unless there was somesort of fiscal stimulus.
Icahn had been a huge cheerleader of Apple, acquiring astake in the company almost three years ago, repeatedly callingthe investment a ‘no brainer.’
In an open letter to Apple Chief Executive Officer Tim Cookin May 2015, Icahn had argued that shares of the iPhone makerwere worth $240, about 90 percent more than they had beentrading.
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