Investor and businessman Carl Icahn’s Hertz stock has dropped by $179 million since November, according to Bloomberg.
Icahn bought over 29 million shares in the car rental company three years ago. They are now worth $375 million, down from $1.3 billion in late 2014.
Despite the losses, Icahn is expected to buy more even more shares at a low price, hoping for the stock to recover.
This story "Carl Icahn Loses Millions As Hertz Shares Tank" was written by Daniel Hoffman.