Carl Icahn: Market Sell-Off Has Longer to Go

Billionaire investor Carl Icahn recently said that the coronavirus sell-off has left some stocks so cheap they’re being “given away,” according to a CNBC article.

Icahn, who was reportedly bearish prior to the recent sell-off, told CNBC in a recent interview that the market “probably has a longer way to go down,” and said he’s been buying stocks of what he sees as strong companies.

“Occidental, Hewlett-Packard…there are companies that should be bought,” Icahn said, adding, “On the other hand, there are many very overpriced companies with very high multiples and too much debt on them and those should be sold.” He said he expects that the commercial real estate market in the U.S. will crumble, the article said, akin to the broader housing market collapse that occurred in 2008.