Ex-Trump adviser sold $31m in shares days before president announced steel tariffs

[TNHarley]

Acting on information that is public is not insider trading.

Apparently he sold them before it was announced.

Or he recognized it was overvalued.

Why Carl Icahn Just Cut His Manitowoc Stake By 33% - Manitowoc Company, Inc. (NYSE:MTW) | Seeking Alpha

Thank you for that! I tried to look for a link earlier that discussed it and couldnt find one

 

[The Original Tree]

Zzzzzzzzz

Just more butt hurt and baseless accusations by the lunatic desperate fringe in the Left.

Remember The Russians started the “Resistance” movement and “Not My President” movements.

You belong to both groups, right?

Coincidence or not?

Ex-Trump adviser sold $31m in shares days before president announced steel tariffs

Carl Icahn, a former special adviser to Donald Trump, sold $31.3m of shares in a company heavily dependent on steel imports last week, shortly before Trump’s announcement of new tariffs sent its shares plummeting.

Sounds like it's right in his ball park: (Wikipedia)

In the 1980s Icahn developed a reputation as a "corporate raider" after profiting from the hostile takeoverand asset stripping of the American airline TWA.[2][3] According to Forbes Magazine, Icahn has a net worthof $16.6 billion, making him the 26th-wealthiest person on the Forbes 400, and the 5th wealthiest hedge fund manager as of February 2017.[4]

In December 2016, incoming U.S. President Donald Trump asked Icahn to serve as a special economic adviser on financial regulation within his administration.[5] Icahn stepped down from the role in August 2017 in advance of an article in The New Yorker magazine highlighting his conflicts of interests.[6][1][7][8] On November 8, 2017, Bloomberg News reported that the U.S. Attorney had issued subpoenas "for information on Carl Icahn's efforts to change biofuel policy while he served as an adviser to President Donald Trump."[9]

 

[TNHarley]

Why Carl Icahn Just Cut His Manitowoc Stake By 33% - Manitowoc Company, Inc. (NYSE:MTW) | Seeking Alpha
A schedule 13D filed with the SEC this afternoon revealed that Icahn Capital Management reduced its stake in Manitowoc Company Inc by $31.3 million.

Although the stock's up 22.4% in the last year, shares are down -19.5% over the last month.

The company's multiples trade at a premium to its peers although growth and investor returns have generally underperformed.

 

[mdk]

The timing is certainly fishy.

 

[Asclepias]

Acting on information that is public is not insider trading.

Of course genius. The point is that Drumpf hadnt made the announcement public when this guy sold his shares.

 

[Confounding]

Lord are you people desperate.

Oh, am I a desperate libtard this time? I was a RWNJ and a Trumpanzee the other day. It's hard to keep track.

 

[Dont Taz Me Bro]

Coincidence or not?

Ex-Trump adviser sold $31m in shares days before president announced steel tariffs

Carl Icahn, a former special adviser to Donald Trump, sold $31.3m of shares in a company heavily dependent on steel imports last week, shortly before Trump’s announcement of new tariffs sent its shares plummeting.

Certainly suspect

 

[The Original Tree]

Aren’t accusations proof of your crimes?

That’s how you lefties play the game, right?

Lord are you people desperate.

Oh, am I a desperate libtard this time? I get accused of being so many things on this forum; it's hard to keep track.

 

[Confounding]

Aren’t accusations proof of your crimes?

That’s how you lefties play the game, right?

Am I a lefty or a righty? You partisan hacks need to get your shit straight.

 

[The Original Tree]

You are a Troll, possibly a Russian Shill who’s only duty is to cause discord in any way possible.

Aren’t accusations proof of your crimes?

That’s how you lefties play the game, right?

Am I a lefty or a righty? You partisan hacks need to get your shit straight.

 

[JLW]

This is all part of Trump's MO: It is third world, petty, and corrupt. It is all he knows.

 

[Aldo Raine]

Lol

Did President Trump not make a Campaign promise to stop steel dumping in the US?

Lord are you people desperate.

Quick appoint a Special Counsel on this Pronto!!!

Then why didnt he do it last year? Why wait until the end of feb 2018 which just happens to be a week before tariffs?
Good lord man
At some point, do you ever think that mayyyybe you should just be honest with yourself?

Not with that troll, it will never happen.

 

[Confounding]

You are a Troll, possibly a Russian Shill who’s only duty is to cause discord in any way possible.

Ты поймала меня.

 

[ColonelAngus]

Coincidence or not?

Ex-Trump adviser sold $31m in shares days before president announced steel tariffs

Carl Icahn, a former special adviser to Donald Trump, sold $31.3m of shares in a company heavily dependent on steel imports last week, shortly before Trump’s announcement of new tariffs sent its shares plummeting.

If he broke the law, he should be prosecuted.

 

[S.J.]

Acting on information that is public is not insider trading.

Of course genius. The point is that Drumpf hadnt made the announcement public when this guy sold his shares.

Trump's trade policies are no secret. Good luck proving insider trading.

 

[SassyIrishLass]

Acting on information that is public is not insider trading.

Apparently he sold them before it was announced.

Or he recognized it was overvalued.

Why Carl Icahn Just Cut His Manitowoc Stake By 33% - Manitowoc Company, Inc. (NYSE:MTW) | Seeking Alpha

Thank you for that! I tried to look for a link earlier that discussed it and couldnt find one

This isn't Icahan's first rodeo, no savvy trader would make a bone head move like that

 

[iamwhatiseem]

Can someone say insider trading?

Can you say Larry Summers? Didn't think so, you probably have no idea who he is or how this relates.
But...quick!!!...post up another tweet!

 

[DOTR]

Anyone here surprised at steel tariffs? That was a campaign promise. And President-for-another-7-years Trump is a man who keeps his promises.

 

[Papageorgio]

Acting on information that is public is not insider trading.

Apparently he sold them before it was announced.

Or he recognized it was overvalued.

Why Carl Icahn Just Cut His Manitowoc Stake By 33% - Manitowoc Company, Inc. (NYSE:MTW) | Seeking Alpha

Why didn't he sell off more than a third, the stock has fallen he lost $12 million? Curious, why wouldn't you divest more? He is worth $16.6 billion, $6 million is really nothing.

The more I read the stranger it looks, if he did indeed know the announcement was coming, why not sell 50% instead of 33%?

 

[S.J.]

The stock was being downgraded by analysts before he sold. He didn't need any inside information from Trump to know it was time to sell.

JPMorgan Downgrades Manitowoc (MTW) to Underweight
The Manitowoc Company: Time To Take Profits - Manitowoc Company, Inc. (NYSE:MTW) | Seeking Alpha
MTW: The Manitowoc Company, Inc. - Brokerage Recommendations - Zacks.com