CVRR over $25 is still nose bleed prices with brent spread only 3. He originally sold the first traunch of CVRR at $25 when the spread was $16. CVRR will fall to $22 this winter if the spread doesn't bounce I think. And he will come in soon with another offering of CVRR. Icahn is still doing great at these prices. And he will keep selling more shares. Because why wouldn't he.
Because another stock offering would send the stock price into nose dive not nose bleed territory. He still may be making money on his initial offering but no one, not even a billionaire, likes to see his portfolio crash and burn as much as it has with both CVI and CVRR.