Carl Icahn Perfectly Timed $30 Million Stock Dump

[struggle4progress]

MARCH 02, 20182:30 PM
By HENRY GRABAR

Onetime Trump adviser Carl Icahn sold more than $30 million in steel-sensitive crane stock in the weeks before the president announced his intention to slap a 25 percent tax on steel imports, according to an SEC filing flagged by ThinkProgress.

Various partnerships under Icahn’s control sold off almost a million shares of the Manitowoc Co. starting with big sales on Feb. 12 and 13. On Feb. 16, Commerce Secretary Wilbur Ross published a report calling for a 24 percent tariff on steel imports to the United States.* On Feb. 21 and 22, Icahn dumped another several hundred thousand shares, dropping his ownership stake below 5 percent and releasing him from the responsibility to disclose further sales. Then, on Thursday, Trump announced he would be signing steel tariffs next week, despite vocal opposition from business interests.

Trump has been rumbling about steel tariffs since the campaign trail, of course, but Icahn’s timing was remarkable: Manitowoc’s stock has fallen by about 20 percent since Icahn began dumping it, punctuated by big losses after the Ross report and Trump’s announcement on Thursday. Icahn saved several million dollars by unloading his stock between $32 and $34 a share. (It was $27 at the time of publication.) ...

https://slate.com/business/2018/03/the-billionaire-financiers-uncanny-prediction-power-strikes-again.html

[OnDoutside]

1. Presumably his phone records can be subpoenaed ?

[Historic NY]

2. Its almost like he had a premonition!!! Perhaps a dream, or even a message from a fortune cookie.

[dchill]

3. So, what you're saying is Trump is a fortune cookie?

[Historic NY]

4. .

[octoberlib]

5. Which leads me to wonder how many

Republican politicians had steel stocks and dumped them because they also had advance notice. I think the characterization of Trump’s tariffs being a last minute , emotional decision according to Trump’s staff are deliberately misleading. I think it was all planned.

[snowybirdie]

6. And poor Martha

Stewart served hard time for much less

[OregonBlue]

7. But if Trump warned his friends, than this is all a big ruse for the press. It is another huge

circus created to distract from the Meuller investigation and not just a sudden decision. I read yesterday that one of his big time Russian Oligarch buddies who was heavily invested in steel stocks also sold his shares in the last couple of weeks.

I wonder if Kelly has a list of issues that will change the subject, ranked by how much controversy they will create, and they just trot them out based on just how bad the news coverage is and how badly Trump is falling in the polls each week.

Trump is a master at manipulating the media.