Crown Holdings $CCK stock rose on November 3, 2022, as news circulated that Carl Icahn had taken a position in the stock reported as of October 25, 2022.
Dark Pool Buying In $CCK Stock
A dark pool trade occurred in $CCK stock on November 2, 2022. We think the dark pool trade was buying because of how $CCK stock rose following the trade hitting the tape.
Icahn Takes Stake in Crown Holdings
Icahn Enterprises and Carl Icahn said in a filing with the Securities and Exchange Commission (SEC) that the reporting persons may be deemed to beneficially own 10,201,273 shares of Crown Holdings. Carl Icahn and his affiliates acquired their positions in common stocks believing they were undervalued and represented an attractive investment opportunity. The Reporting Persons intend to discuss with representatives of the Company’s management and the Board of Directors various matters that they believe will enhance shareholder value, including operations, finance, corporate governance, management, capitalization, accounting, strategic direction and performance-related matters, the filing said. A report in the Wall Street Journal states that Carl Icahn has amassed more than 8% of the crown and wants to sell the company or spin off non-core assets.
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Crown Holdings $CCK Stock Technical Analysis
Crown $CCK stock is in a technical strong downtrend. Long-term indicators support a continuation of the downtrend; however, short-term indicators suggest the stock is approaching oversold territory so a bounce or even trend reversal is possible.
