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Activist investor Carl Icahn reports nearly 10% stake in JetBlue Airways, says stock is undervalued

Activist investor Carl Icahn on Monday reported a nearly 10% stake in JetBlue Airways, saying the airline stock is undervalued. Shares of JetBlue spiked 14% in extended trading.

Icahn amassed the stake in a series of purchases in January and February, according to regulatory filings. According to a filing, he has had and plans to continue discussions with the company “regarding the possibility of board representation.”

JetBlue said in a statement, “We are always open to constructive dialogue with our investors as we continue to execute our plan to enhance value for all of our shareholders and stakeholders.”

Representatives for Icahn were not immediately available to comment.

This is breaking news. Please check back for updates.

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