Icahn Enterprises LP’s stock IEP, +11.85% rose 6% premarket Friday, after closing down almost 2% on Thursday, after short seller Hindenburg Research intensified his bearish bet on Carl Icahn’s investing arm, and said he was taking aim at its bonds. Hindenburg, run by Nate Anderson, said the latest disclosures made Wednesday by IEP raised more questions about Icahn’s personal margin loans, or debt, from the company as well as portfolio losses at IEP. The short seller also said disclosures, intended to counter Hindenburg’s May 2 report, failed to address the issues raised. The latest exchange in the war of words between Anderson and the iconic activist billionaire hit IEP’s stock and the company’s bonds, in which Anderson has taken a short position. The stock is still down 37.5% in the year to date, after a May 2 report from Hindenburg that accused IEP of inflating asset values and questioned Icahn’s own borrowing from the company using his units as collateral.
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