LinkedIn stock is up on rumours that Carl Icahn could buy a stake

Carl icahnReutersActivist investor Carl Icahn

LinkedIn shares are up as much as 4% Wednesday on rumours from Schaeffer’s Investment Research and others that activist investor Carl Icahn could buy a stake in the company.

The company has had a tumultuous year. LinkedIn shares crashed as much as ~27% after disappointing Q1 earnings in April.

Icahn is famous for buying into companies and then being extremely vocal about his suggestions for how the company can improve or return cash to shareholders through stock buybacks and dividends.

Of course, these are just rumours, for now. On multiple occasions, Wall Street whispered that Icahn would buy into Twitter, which he never has.

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