| Jim Chanos is betting against Carl Icahn's latest big target | |
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(Eric Thayer/Reuters) Jim Chanos.
Jim Chanos and Carl Icahn are on opposite sides of the same trade.
In an interview on CNBC's "Squawk Box" on Wednesday morning, short-seller Jim Chanos of Kynikos Associates said he was short shares of the natural-gas company Cheniere Energy.
Earlier this month, Carl Icahn disclosed a stake of over 8% in the company, and on August 21 the sides disclosed an agreement for two Icahn nominees to join Cheniere's board.
As we noted in August, Cheniere hasn't been profitable in almost two decades.
On Wednesday on CNBC, Chanos said Cheniere was a "looming disaster" and demand for liquid natural gas was not growing.
In premarket trade, shares of Cheniere were down as much as 4% after Chanos' comments.
Chanos told CNBC he came across the idea for shorting Cheniere while doing work on his bet against the oil producer Royal Dutch Shell.
When asked whether Chanos had been building his short before Icahn disclosed his long position in Cheniere, he said he wasn't sure, but he did say "we may have crossed trades a few times," meaning Chanos could have been borrowing shares to bet against while Icahn was accumulating stock to own.
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Cheniere Energy Inc.
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CODE : LNG |
ISIN : US16411R2085 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Cheniere Energy is a exploration company based in United states of america. Cheniere Energy is listed in United States of America. Its market capitalisation is US$ 37.8 billions as of today (€ 35.3 billions). Its stock quote reached its lowest recent point on December 31, 2001 at US$ 0.75, and its highest recent level on April 26, 2024 at US$ 159.14. Cheniere Energy has 237 656 695 shares outstanding. |