(Bloomberg) When billionaire Carl Icahn bought into Hertz Global Holdings Inc. in summer 2014, he said he thought the shares were undervalued. With prices down almost 90 percent in the years since, he might be wishing he could take that one back. Icahn’s 29.3 million shares in the ailing rental-car company are now worth about $375 million, according to Bloomberg calculations. That’s down from a high of about $1.3 billion at the end of 2014, when he held half as many shares. The value of the new stock he bought in November has dropped by $179 million in just six months.

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