Caesars stock jumps on reports of Carl Icahn's 'sizable' stake

Shares of Caesars Entertainment (CZR) are surging as a report from Bloomberg reveals that activist investor Carl Icahn has amassed a sizable position in Caesars.

Yahoo Finance Anchors Josh Lipton and Julie Hyman break down the report and what it means for the stock moving forward.

For more expert insight and the latest market action, click here to watch this full episode of Market Domination.

This post was written by Nicholas Jacobino

Video transcript

Let's talk about Caesars Entertainment and then we can go and then we can go.

Caesars is jumping today on a report that activist investor Carl icon has a sizable position in the company.

Those shares are jumping as well about 11% here.

And that is according to reports today from Bloomberg and the shares are rising by the most in about a year and a half.

We don't know what Icahn's plans were would be, but he's bought casinos before.

Yeah, normally, obviously you think icon, you think activists caught out of stake, start rattling a cage per reports, Julie that is not Mr Icahn's intention here.

Um Or at least we don't know what his intention.

Well, the recording so far has been actually kind of suggesting he like the management team, no plans for a campaign.

Um So, I mean, listen, we'll see how that kind of develops.

That's at least the headlines.

But Caesars, you pay attention to, you know, largest owner of casinos in the US and icon, of course, you know, very familiar with this sector.

Yes, indeed.

He has invested in it before.

Now.

The t have you ever talked to Carl icon.

I have not experience.

Yes.