Bill Ackman Not Sweating Herbalife (HLF) Squeeze; Hasn't Covered a Share
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It appears Bill Ackman is pressing his Herbalife (NYSE: HLF) short bet and is sitting very comfortably despite the recent squeeze.
"We stand by everything we have said. We haven't covered a share. And we look forward to the company's rebuttal," Ackman told CNBC's Herb Greenberg. Ackman has said publicly he is short over 20 million shares and sees the stock eventually going to zero.
Down 16% since Ackman went public with his short, and down an estimated 50% since he put on the short, shares have rebounded 47% from the post Ack-attack bottom as other smart market participates take the other side of his trade and a short squeeze has ensued.
Notably, Greenberg's report said Ackman was on vacation when he talked to him, so clearly his is comfortable with his short despite the dramatic rise and word that noted activist investors Robert Chapman is now long the stock.
Next week (Jan 10) the company will be hosting an analyst day to explain how Ackman is wrong and its business is thriving.
Shares of HLF last traded at $35.82, down 1.5%.
"We stand by everything we have said. We haven't covered a share. And we look forward to the company's rebuttal," Ackman told CNBC's Herb Greenberg. Ackman has said publicly he is short over 20 million shares and sees the stock eventually going to zero.
Down 16% since Ackman went public with his short, and down an estimated 50% since he put on the short, shares have rebounded 47% from the post Ack-attack bottom as other smart market participates take the other side of his trade and a short squeeze has ensued.
Notably, Greenberg's report said Ackman was on vacation when he talked to him, so clearly his is comfortable with his short despite the dramatic rise and word that noted activist investors Robert Chapman is now long the stock.
Next week (Jan 10) the company will be hosting an analyst day to explain how Ackman is wrong and its business is thriving.
Shares of HLF last traded at $35.82, down 1.5%.
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