{"id":499050,"date":"2010-04-01T00:49:52","date_gmt":"2010-04-01T04:49:52","guid":{"rendered":"http:\/\/www.businessinsider.com\/carl-icahn-diving-out-of-his-failed-blockbuster-buy-2010-3"},"modified":"2010-04-01T00:49:52","modified_gmt":"2010-04-01T04:49:52","slug":"carl-icahn-running-scared-out-of-his-failed-blockbuster-raid-bbi","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/499050","title":{"rendered":"Carl Icahn Running Scared Out Of His Failed Blockbuster Raid (BBI)"},"content":{"rendered":"

In 2005, Carl Icahn forced himself and two others onto the board of Blockbuster (BBI). He was gunning to shake things up and create value. Yet this happened:<\/p>\n

\"chart\"<\/p>\n

That chart just hurts, he must have lost an enormous sum of money. BBI has gone from $10 five years ago to 25 cents.<\/p>\n

Now Mr. Icahn is cutting his losses and heading for the exits. The raid is over.<\/p>\n

Market Folly:<\/a><\/p>\n

Notorious shareholder activist Carl Icahn recently filed a Form 4 with the SEC regarding shares of Blockbuster (BBI). Icahn, through his various investment vehicles, recently dumped a ton of both Class A and Class B shares of Blockbuster. On March 25th he owned 19,905,190 shares and as of March 30th, he now owns only 4,358,223 shares.<\/strong> The majority of sales took place on March 29th and 30th at prices of $0.24 and $0.25 per share. In total, Icahn’s various entities sold 14,362,708 and the picture below depicts the breakdown of sales:<\/p>\n

\"Chart\"<\/p>\n

(See a larger graphic at Market Folly<\/a>)<\/p>\n

If anyone knows exactly what his performance was, feel free to email us. You can also read more about Carl Icahn’s horrible 2005 Blockbuster raid here<\/a>.<\/p>\n

Join the conversation about this story »<\/a><\/p>\n

See Also:<\/b><\/p>\n