Icahn Enterprises: Collapsed Market Cap, Halved Distribution, This Is Not A Buy
Icahn Enterprises(IEP) Seeking Alpha·2024-01-10 17:21
jetcityimage Icahn Enterprises (NASDAQ:IEP) is a shadow of its former self; the quarterly distribution has been halved with no clear pathway to recovery, its market cap is down 66% from a year ago, and a public stock portfolio broadly tilted towards hydrocarbon is in the middle of a comedown from the 2022 surge induced by Russia's invasion of Ukraine. The outlook seems bleak with IEP's units currently trading with no general direction and failing to participate in the broad market rally sparked by the Fed's ...