Carl Icahn Has Lost Over $600 Million on Chesapeake Energy Investment
Activist investor Carl Icahn may want to consider talking up the shares of Chesapeake Energy, because he’s lost seven times as much money on them Thursday as he’s made on Apple Inc.’s stock.
Icahn Associates is the largest shareholder of Chesapeake Energy CHK, -1.91% with 66,450,000 shares, according to FactSet. With the shares sliding $1.13, or 5.5%, to $19.50 in afternoon trade Thursday to their lowest level since July 1, 2013, Icahn has so far lost $75.1 million on the day.
The oil-and-gas company’s shares have lost a third of their value over the past three months, which translates into a loss of $632.6 million for Icahn during that time.
That’s assuming Icahn’s holdings remained unchanged, of course. Icahn wasn’t immediately available for comment.Read more by clicking here.
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