Herbalife (HLF) Pressure Mounts as Another Noted Hedgie Goes Short
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Herbalife (NYSE: HLF) may be off to another slow start today as noted hedge fund man Whitney Tilson is joining his peers in taking a grim view on the company.
In an email to Bloomberg, Tilson, of T2 Capital Partners, said he is short just "a tiny smidge" of Herbalife as well as a handful of other multi-level marketing (MLM) companies. Short interest is so strong right now that Tilson said you'd be lucky to get a barrow at this point.
Last week, Pershing Square's Bill Ackman launched a website dedicated to disclosing all the facts they know about the company. Ackman is said to be short over 20 million shares with a price target of zero.
According to data from tracking-firm Markit, short interest on Herbalife is 26 percent of float as of December 21st, which would equal about 27.6 million total shares.
Herbalife is indicated higher in pre-market trading.
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In an email to Bloomberg, Tilson, of T2 Capital Partners, said he is short just "a tiny smidge" of Herbalife as well as a handful of other multi-level marketing (MLM) companies. Short interest is so strong right now that Tilson said you'd be lucky to get a barrow at this point.
Last week, Pershing Square's Bill Ackman launched a website dedicated to disclosing all the facts they know about the company. Ackman is said to be short over 20 million shares with a price target of zero.
According to data from tracking-firm Markit, short interest on Herbalife is 26 percent of float as of December 21st, which would equal about 27.6 million total shares.
Herbalife is indicated higher in pre-market trading.
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William Ackman, Pershing Square Capital, Hedge Funds, Whitney Tilson, T2 Partners
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