LinkedIn stock is up on rumors that Carl Icahn could buy a stake

LinkedIn shares are up as much as 4% Wednesday on rumors from Schaeffer's Investment Research and others that activist investor Carl Icahn could buy a stake in the company.

The company has had a tumultuous year. LinkedIn shares crashed as much as ~27% after disappointing Q1 earnings in April.

Icahn is famous for buying into companies and then being extremely vocal about his suggestions for how the company can improve or return cash to shareholders through stock buybacks and dividends.

Of course, these are just rumors, for now. On multiple occasions, Wall Street whispered that Icahn would buy into Twitter, which he never has.