Carl Icahn says the market sell-off has longer to go even though some stocks are ‘awfully cheap’


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Billionaire trader Carl Icahn mentioned Friday that the coronavirus market-off has produced some shares so cheap they are currently being “supplied absent.”

“Now it truly is attained a position that there are some companies that are type of just given absent,” Icahn stated Friday on CNBC’s “Halftime Report. “Some of these companies are awfully cheap, they are pretty affordable,” he extra.

But Icahn, who was bearish prior to the recent offer-off, doesn’t see the turmoil that has sent the Dow and S&P 500 into bear current market territory ending at any time soon.

“I’m not really as bearish as I was even nevertheless it has a extended way to go down,” he said.

Icahn reported that he is been obtaining stocks, together with Occidental Petroleum, Hertz and HP.

“These providers are great businesses. Occidental, Hewlett-Packard … there are firms that should be bought. On the other hand, there are numerous extremely overpriced corporations with really superior multiples and as well much personal debt on them and people must be offered,” he said.

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