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August 2013

Spin on a multi-billion dollar scale

The man

Carl Icahn, activist investor

What happened?

On 13th August Carl Icahn single handedly moved the share price of AAPL by almost 5%. By sending two simple tweets, Icahn added $17.1B in market cap. This article discusses the possibility of a dangerous precedent. This is what it looked like:

The image above displays the Apple share price on 13 August 2013, moving from $475 to…

Should this type of tweet be legal?

We currently have a large position in APPLE. We believe the company to be extremely undervalued. Spoke to Tim Cook today. More to come.— Carl Icahn (@Carl_C_Icahn) August 13, 2013

At face value, this type of tweet could easily be considered as market manipulation, and part of a “pump and dump” scheme.

As an activist investor Carl Icahn has been vocal about his strategy which is…

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