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Hertz Stock Skids 12 Percent after Investor Carl Icahn Discloses a Cut in His Stake

(CNBC) Hertz Global Holdings stock plummeted Tuesday after longtime activist investor Carl Icahn disclosed he has trimmed his stake, selling off roughly five million shares. In a regulatory filing late Monday, Icahn reported ownership of 24.3 million shares of the rental car company, that represents 28.9 percent of its outstanding equity. That’s down from a previously reported stake of 29.3 million shares, or about 35 percent of Hertz.

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