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Carl Icahn just got Hindenburged
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Carl Icahn just got Hindenburged
Hindenburg alleges that Carl Ichan has been using money taken in from new investors to pay out dividends to old investors.
The current dividend is 15.8%, making it the highest dividend yield of any U.S. large cap company by far.
But this dividend is unsupported by Ichan Enterprise’s cash flow, which burned $4.9 billion dollars since 2014.
This Ponzi-like economic structure is only sustainable to the extent that new money is willing to risk being the last one ‘holding the bag’
Hindenburg alleges that Carl Ichan has been using money taken in from new investors to pay out dividends to old investors.
The current dividend is 15.8%, making it the highest dividend yield of any U.S. large cap company by far.
But this dividend is unsupported by Ichan Enterprise’s cash flow, which burned $4.9 billion dollars since 2014.
This Ponzi-like economic structure is only sustainable to the extent that new money is willing to risk being the last one ‘holding the bag’
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