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Rap Sheet

Author:

Jester Debunker

Subject:

Off Topic

Date:

03/02/18 at 10:53 AM CST

 

 

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It's good to be king

Convenient trade timing by Icahn. He has long been a close advisor of Trump, recently in an official capacity which he ended because of how it appeared. On Feb 22nd he dumped nearly 1M shares of a steel manufacturer at $32-$34. This was his first trade in over three years, and came a mere four days before the Trump admin announced huge 25% tariffs, and now the stock is at $26. Did he just get very lucky with his first trade in that company in over 3 years? Hmmm..... it sure smells fishy. That sale dropped him below the 5% ownership level where he's required to report sales, so he may well have continued selling ahead of that tariff announcement (and probably did).

thinkprogress.org/tr...beaf0/

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