Icahn Enterprises Stock Plummets After Slashing Dividend in Half

Icahn Enterprises, owned by Carl Icahn, cut its quarterly dividend in half from $2 to $1 per share.
The company's stock price plunged over 30% following the dividend cut announcement.
Short-seller Hindenburg Research had accused Icahn Enterprises of operating a "Ponzi-like" structure and criticized its high dividend yield.
Icahn Enterprises reported increased net losses for Q2 2023 and said the losses were partly due to Hindenburg's report.
Icahn vowed to fight back against Hindenburg's claims and refocus Icahn Enterprises on activist investing strategies.