Herbalife (HLF) Traders All But Forget Ackman's Ominous Words
Herbalife (NYSE: HLF) is showing more unusual life today following comments a few sessions back from Pershing Square's Bill Ackman questioning the value of the company, sending shares over 43 percent lower through Christmas Eve. Pershing Square even setup a dedicated website to disclose all of the information they know about the stock. (For more on that site, click here.)
Basically, Ackman has a zero price target and was short over 20 million shares at last check.
It seems as investors and traders are putting Ackman's words that Herbalife is a big "scam" aside for now and actually going on valuation for some quick profits. Since closing at $26.06 on December 24th, the stock is up 25 percent to the low $30s making a stronger valuation for the company.
If Ackman hopes for more downside to make his short work out, he better hit with another assessment.
Herbalife is holding an Analyst and Investor meeting on January 10th. Maybe this will be another opportunity for Ackman to make his case?
Shares are up over 11 percent Monday. For more Herbalife coverage, click here.
Basically, Ackman has a zero price target and was short over 20 million shares at last check.
It seems as investors and traders are putting Ackman's words that Herbalife is a big "scam" aside for now and actually going on valuation for some quick profits. Since closing at $26.06 on December 24th, the stock is up 25 percent to the low $30s making a stronger valuation for the company.
If Ackman hopes for more downside to make his short work out, he better hit with another assessment.
Herbalife is holding an Analyst and Investor meeting on January 10th. Maybe this will be another opportunity for Ackman to make his case?
Shares are up over 11 percent Monday. For more Herbalife coverage, click here.