How Carl Icahn and others made a killing shorting malls

The pandemic has devastated brick-and-mortar retail, but some investors profited handsomely by betting on shopping malls’ misfortune. Among them is Carl Icahn, one of the country’s best-known investors, who took a calculated risk that malls would suffer. Since the onset of the pandemic, Icahn has been outspoken about his shorting on the mall-heavy CMBX 6 index. “The malls were way overbuilt to begin with,” Icahn told the New York Times, “but additionally, the real problem

source https://therealdeal.com/2020/08/24/how-carl-icahn-and-others-made-a-killing-shorting-malls/