CLDR Stock Makes Big Move Following Carl Icahn’s Surprise Stake

CLDR stock

CLDR stock is moving up in Friday’s session after activist investor Carl Icahn disclosed a notable stake in Cloudera Inc (NYSE:CLDR).

Investors Cheer the News

When a well known successful investor buys a significant stake in a company and divulges that he holds a large chunk of shares, then there is bound to be a lot of optimism surrounding the stock from investors. That is what seems to have happened for California-based software company Cloudera Inc today. The company’s shares soared this morning after billionaire activist investor Carl Icahn stated that he held a substantial stake in the company.

Icahn is known for taking large stakes in companies that are not doing particularly well and then turning them around by coaxing the board into changing certain aspects of the business.

Enter Your E-mail Address To Subscribe

* indicates required
 

CLDR stock soared by as much as 13% at $7.14, but it remains to be seen how it will play out for the rest of the day.

>> Is CNTY Stock Worth the Gamble? Solid and Steady Gains Continue

Icahn has been pretty successful in his particular line of work, and he has revealed that currently, he has a 12.6% stake in Cloudera. In his statement, Icahn pointed out the underperformance of CLDR stock in 2019, which has lost as much as 40% in value. He went on to state that he is going to speak to the company’s management soon in order to make some change that could unlock more value for shareholders.

It goes without saying that this is excellent news for shareholders and it is more so, considering the fact that Icahn believes that CLDR stock is currently undervalued. Over the course of his storied careers, Icahn has been highly successful in these moves and has managed to create a lot of value for shareholders at a number of companies.

CLDR stock shed 43% in June alone after it reported disappointing earnings and the resignation of Chief Executive Officer Tom Reilly did not help matters either. However, this announcement has changed the landscape completely and could prove to be a game-changer for Cloudera shareholders.

>> Read More Tech News

Featured image: DepositPhotos © zestmarina