Cloudera (CLDR) Stock Climbs On Icahn Stake

Coudera CLDR Stock News

Cloudera Inc (NYSE: CLDR) is making a run for the top in the market today, gaining more than 16% in the pre-market. The gains come after activist investor, Carl Icahn revealed a large stake in the company. Here’s what’s happening:

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CLDR Stock Heads Up On Icahn Stake

Cloudera is climbing this morning after activist investor Carl Icahn revelead that he has taken a substantial stake in the company. According to various reports, Icahn now owns 12.6% of CLDR.

In a statement, Mr. Icahn pointed out that due to the fact that the stock has tumbled more than 40% this year, the stock is undervalued. Moreover, Icahn said that he plans on holding talks with the company’s management in order to increase shareholder value.

This Is Great News

Let’s face it, a more than 40% drop in value is a painful reality, and CLDR investors have been living it. However, Icahn is known for stepping in and helping companies get past lulls in order to return value to shareholders.

With Icahn taking such an interest in Cloudera, we can expect to see big changes. Moreover, considering the large stake held by the activist investor, it’s likely that Icahn will seek to appoint members to the board, further expanding expertise and possibilities of growth.

All in all, for CLDR, this is great news. So, it’s not shocking to see that excited investors are sending the stock on a run for the top.

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