Diamonds and Dogs

5/12/23

Insider buying at Icahn Enterprises (IEP). Carl Icahn's holding company is up 11% after authorizing a buyback equaling 3% of its shares trading on the open market, potentially boosting the stock price as the financier feuds with a short seller. Over the last month, the stock is down 30% as Hindenburg Research company questioned the accounting of Icahn Enterprises.

Shares of Tesla (TSLA) reversed lower. CEO Elon Musk said that Twitter would have a new CEO. He later confirmed that former NBCUniversal advertising chief Linda Yaccarino will be the new Twitter chief. Tesla stock is languishing below its 50-day line. Also Friday, a China regulator said the EV maker must make a software update for over 1 million cars. The recall starts May 29.

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