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JetBlue Airways spikes as Carl Icahn buys a 10% stake in the company

AuthorVlad Schepkov
Published 12/02/2024, 22:44
© Reuters.
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Shares of JetBlue Airways (NASDAQ:JBLU) are trading over 8% higher in the after-hours on Monday, after the famed activist investor Carl Icahn reported a 9.91% stake in the company.

According to an SEC filing dated February 1st, Icahn acquired the shares 'in the belief that they were undervalued and represented an attractive investment opportunity.'

The filing adds that the investor has had, 'and intend to continue to have, discussions with members of the Issuer's management and board of directors regarding the possibility of board representation.'

Carl Icahn has a controversial reputation of a "corporate raider," and has taken over major airlines in the past, with the most well-known case being his hostile takeover of Trans World Airlines in the 1980s.

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