Xerox Holdings Corp
XRX 2.51%
saw 10% owner Carl Icahn add to his stake. He indirectly picked up more than 1.81 million shares altogether for $16.07 to $16.60 each. That totaled almost $29.58 million. Also, a director bought 15,000 shares last week.
https://www.benzinga.com/news/20/08/16999666/notable-insider-buys-at-allovir-xerox-and-many-more
Icahn buys stock in businesses that he believes has a different opportunity or value.
He then becomes heavily involved in shareholder activity to do exactly what he did with Xerox- he injects his people into the board and starts grabbing power.
It’s his MO
He eventually has enough influence and power to drive the major decisions and outcomes- in other words he runs the company as a shareholder
Sound familiar??
Stock dropping the old man not making good decisions with his greed.
Day trading... classy.
Can't wait for him to be investigated for insider trading.
Here’s why: https://www.marketbeat.com/instant-alerts/nyse-xrx-price-alert/
He also bought stock in Occidental, which just lost 8.8 bol
Why
I have a paper jam. Oh yeah, where? In the machine. It jams when the paper goes through the machine. really?
It's high time to get out of this morbid state of limbo and move on.
Somethings up... and it can’t be good for the workers...
I don't think he's trying to increase the share price. It's flatlined way below the $40 target he had, and nothing short of a 100% cure for Covid would get it up that high before 2030 comes around. Let's face it, printing was in a downward spiral before Covid hit, and it's much worse now.
I think one of the other posters is correct. He either knows or is betting that some other deal is imminent or in the works, so he's adding to his position in order to cash in once that deal becomes public. Hostile takeover, selling parts of the business, who knows. But Icahn doesn't add to a losing position, so something must be in the works.
Xerox is primed for a hostile takeover. He's just making sure he's paid when that happens.
He probably uses insider info and sees value OR he’s doing this to show confidence in the stock & to try to shore it up.
@rna+16mSIDZ9 Id day either something is in the works of imminent and I would say that is not good. A sale or a reorganization
So what does this mean, in laymen's terms?
Must be nice, to be able to speculate with an incremental ~$30M.
Horrific. Think Berkshire wants in on this action? Anyone who takes this as a sign of confidence in return to revenue needs their head examined.