Trump Pal Carl Icahn Unloaded Millions In Steel-Related Stock Days Before Tariff

Penelope

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Jul 15, 2014
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Trump Pal Carl Icahn Unloaded Millions In Steel-Related Stock Days Before Tariff

The billionaire sold before shares of crane manufacturer Manitowoc Co. plunged on Trump’s tariff plan.

Billionaire Carl Icahn, President Donald Trump’s longtime friend and former special adviser, sold $31.3 million in shares of a steel-related company just before Trump announced tariffs on imported steel and aluminum.

Icahn
unloaded nearly 1 million shares in crane manufacturer Manitowoc Co. of
Wisconsin from Feb. 12 to Feb. 23, according to a filing with the
Securities and Exchange Commission
first reported by the
website Think Progress. Manitowoc
relies on steel, and shares in the company fell after Trump announced on
Thursday that he plans to impose a 25 percent tariff on steel. The
Commerce Department’s report recommending the tariffs was made public Feb. 16.

Trump Pal Carl Icahn Unloaded Millions In Steel-Related Stock Days Before Tariff | HuffPost

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I wonder if he knew or just happened to sell. :)
 
just a coincidence, i'm sure

lots of people sell large amounts of stock two days prior to a govt announcement that negatively affects its value

nothing to see here
 
His stocks have been failing.
I also fail to see why one of the richest people in the world would risk going to prison over a few million dollars
 
The stock was in free fall...he sold to prevent a further loss.

Ichan is no fool and wouldn't risk an insider trading charge for what is chump change to him
 
stock went into freefall after the tariff announcement

icahn sold two days before it was announced

yeah, nothing here

:lol:

because rich guys never cheat

ask the cheeto :thup:
 
Ichan wouldn't be the same pal that noisily walked off the President's council on business would it?
 
stock went into freefall after the tariff announcement

icahn sold two days before it was announced

yeah, nothing here

:lol:

because rich guys never cheat

ask the cheeto :thup:

It was in free fall long before the announcement....43.59 on Jan 26th, 35.35 Feb 5th, 34.20 on the day the sell off began.
 
Why would increasing steel manufacturing in America cause steel prices to fall?
Answer...it wouldn't.....steel has been tanking for a very long time...way before Trump announced tariffs so the twisted link and story from the OP is just that twisted and fake...made up...BS...CNN style BS....
 
It was in free fall long before the announcement....43.59 on Jan 26th, 35.35 Feb 5th, 34.20 on the day the sell off began.
52-wk high 44.03
52-wk low 21.00
 
Carl Icahn, the billionaire former "special adviser" to President Donald Trump, sold about $31 million in stock in a manufacturing company heavily dependent on steel in the days leading up to Trump's announcement that the U.S. would impose a 25% tariff on steel imports.

Snip

maker of cranes and other lifting machinery. The filing shows that Icahn's stake in the company has fallen to 4.88% from 7.81% as of January. SEC rules don't require holders of less than 5% of a company to disclose further sales.

The sales show excellent timing by the well-known investor, whose fortune is estimated by Forbes at $16.6 billion. He started selling the shares on Feb. 12, a few days before Commerce Secretary Wilbur Ross released a report on Feb. 16 that called for a 24% steel tariff.

Manitowoc shares now trade at about $26.95, compared with the $32-$34 range Icahn sold them for. Separately, the general counsel that Icahn installed as one of Manitowoc's directors, Jesse Allen Lynn, stepped off the company's board on Feb. 23, the day after the 13D filing, according to BoardEx, a relationship capital management service that's a division of TheStreet, Inc.

Icahn Sells $31 Million of Stock in Company That Tanked on Trump Tariff News
 
Why would increasing steel manufacturing in America cause steel prices to fall?
Answer...it wouldn't.....steel has been tanking for a very long time...way before Trump announced tariffs so the twisted link and story from the OP is just that twisted and fake...made up...BS...CNN style BS....

Carl Icahn, the billionaire former "special adviser" to President Donald Trump, sold about $31 million in stock in a manufacturing company heavily dependent on steel in the days leading up to Trump's announcement that the U.S. would impose a 25% tariff on steel imports.

Even if he only made a dollar a share!! But he made more. Post 12
 
Why would increasing steel manufacturing in America cause steel prices to fall?
Answer...it wouldn't.....steel has been tanking for a very long time...way before Trump announced tariffs so the twisted link and story from the OP is just that twisted and fake...made up...BS...CNN style BS....

Carl Icahn, the billionaire former "special adviser" to President Donald Trump, sold about $31 million in stock in a manufacturing company heavily dependent on steel in the days leading up to Trump's announcement that the U.S. would impose a 25% tariff on steel imports.

Even if he only made a dollar a share!! But he made more. Post 12
Come on pene... THINK
Why Carl Icahn Just Cut His Manitowoc Stake By 33% - Manitowoc Company, Inc. (NYSE:MTW) | Seeking Alpha
Why would someone worth 20 billion dollars risk prison over crumbs?
 

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