Billionaire Investor Cuts Rail Bets, Slashing Norfolk Southern And Union Pacific Stakes
Dan Loeb’s Third Point slashed Norfolk Southern and Union Pacific stakes by more than 90% while exiting CSX amid railroad merger uncertainty.
Why It Matters
A big investor sold almost all his shares in three railroad companies because he's unsure what will happen to them. When smart money investors sell a lot of stock, it's worth noticing—it can mean they think things might get tricky ahead.
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Source: Benzinga · Read the original report at the publisher. Headline and figures shown for context; data may be delayed.
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