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Shorting the short: Investors bet against Icahn's oil refiner after biofuel trade

Reuters  |  NEW YORK 

By Jarrett Renshaw and Chris PrenticeNEW YORK (Reuters) - Investors have built up a large short position in investor Carl Icahn's oil refining company, CVR Energy, in the past three months, according to Reuters data, as evidence mounts that the company's gamble on the biofuels market is going sour.Icahn has been one of the loudest critics of the federal biofuels program. CVR, in which Icahn holds an 82 percent stake, had about 6.5 percent short interest overall as of mid-July, up from 5.2 percent at the end of March, according to the latest data available from Nasdaq. That would translate to ...

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First Published: Wed, August 09 2017. 19:49 IST
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