Carl Icahn says the market sell-off has longer to go even though some stocks are ‘awfully cheap’
Billionaire investor Carl Icahn said Friday that the coronavirus sell-off has made some stocks so cheap they’re being “given away.”
“Now it’s reached a point that there are some companies that are sort of just given away,” Icahn said Friday on CNBC’s “Halftime Report.” “Some of these companies are awfully cheap, they’re very cheap.”
But Icahn, who was bearish prior to the recent sell-off, doesn’t see the turmoil that has sent the Dow and S&P 500 into bear market territory ending anytime soon.
He said that he’s “not quite as bearish” as he was, but that he does think “it probably has a longer way to go down.”
“I still think my hedges are good. I’ve been hedged for three years so I’m not getting hurt nearly as much as a lot of other people,” he said.
Icahn said that amid the market turmoil, he’s been buying stocks, including …continued .
[Source: CNBC News]