Billionaire investor Carl Icahn dumped all of his Hertz shares at an almost $2 billion loss after the car-rental giant's bankruptcy

Reuters

• Carl Icahn dumped his 39% stake in Hertz at a loss of nearly $2 billion on Tuesday.
• The billionaire investor sold his 55.3 million shares for less than $40 million after the car-rental agency filed for bankruptcy last week, a financial filing showed.
• "I sold my equity position at a significant loss, but this does not mean that I don't continue to have faith in the future of Hertz," Icahn said in the filing.
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Billionaire investor Carl Icahn sold his 39% stake in Hertz at an almost $2 billion loss on Tuesday after the car-rental giant filed for bankruptcy last week.

"Unfortunately because of Covid-19 which has caused an extremely rapid and substantial decrease in travel, Hertz has encountered major financial difficulties and I support the Board in their conclusion to file for bankruptcy protection," Icahn said in a Securities and Exchange Commission filing released on Wednesday.  

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