Icahn also made news Wednesday for selling over half his stake in Netflix Inc. NFLX . He said on Bloomberg TV that he still believes the company has a good business model, but that that it was time to take some chips off the table.
Regarding some favorite stocks among activist investors, he said Herbalife Ltd. HLF is undervalued, but J.C. Penney Co. Inc. JCP is one he is staying away from. J.C. Penney shares were down nearly 1% after hours.
The big boys may have previously sold, but are now getting back IN, taking this thing back up, Ackman will be able to sell above $12 once again, and come out of this looking like a genius. He has no choice but to make a play here, he is way underperforming the markets and other hedgies. JCP may have hurt his rep earlier this year but now will make him look like the smartest on wall st. Book it