Carl Icahn Now Largest Shareholder In Seventy Seven Energy
Shares of Seventy Seven Energy (NYSE: SSE) have popped in the post-market trading session Wednesday after activist investor Carl Icahn divulged a rather large stake in the company.
A 13D filing to the SEC from Icahn showed he owns nearly 4.75 million shares of Seventy Seven Energy, about a 9.98 percent stake.
The stock last traded at $25.70, up more than four percent from Wednesday's closing price.
Shares of the Seventy Seven began trading just last week at around $23.75 per share, hitting a high of $27 over the next few days. The stock has come in with the overall market since Monday, hovering near its original debut price at Wednesday's close of trading.
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