Ackman's Pershing Square Declines Comment on Herbalife (HLF) FTC Investigation
Tweet
Share
E-mailGet Alerts HLF Hot Sheet
Up)Join SI Premium – FREE
Short seller Bill Ackman of Pershing Square declined to comment on today's FTC civil investigation of Herbalife (NYSE: HLF).
Meanwhile on the long side, Kerrisdale Capital's Sahm Adrangi told TheStreet: "It's interesting the stock is down only 8% on the news of the civil subpoena from FTC. I think the idea is that we'll finally put the regulatory issues to rest after the FTC investigation, although it may take a long time for the FTC to conduct its investigation. He added, "Given that it's practically impossible for the FTC to shut down the company's non-US operations, this development will accelerate the time when the long-term fundamentals of the story will ultimately overshadow the headline risk concerns." They believe the stock is worth over $100 per share.
Meanwhile on the long side, Kerrisdale Capital's Sahm Adrangi told TheStreet: "It's interesting the stock is down only 8% on the news of the civil subpoena from FTC. I think the idea is that we'll finally put the regulatory issues to rest after the FTC investigation, although it may take a long time for the FTC to conduct its investigation. He added, "Given that it's practically impossible for the FTC to shut down the company's non-US operations, this development will accelerate the time when the long-term fundamentals of the story will ultimately overshadow the headline risk concerns." They believe the stock is worth over $100 per share.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Super Micro Computer (SMCI) Falls 6%
- lululemon athletica (LULU) to close one of smaller distribution centers located in Sumner, WA at the end of 2024 - Reuters
- European stocks 'priced for macro perfection' - BofA
Create E-mail Alert Related Categories
Insiders' Blog, Short Sales, Trader TalkRelated Entities
William Ackman, Pershing Square CapitalSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
