Tough Pill to Swallow: Icahn Up Slightly on Herbalife (HLF) Amid $600M+ Bet
Could Carl be rethinking his position in Herbalife (NYSE: HLF)?
According to latest market data, maybe. Herbalife has been anything but a friend to Icahn since he disclosed a large stake in the company last month.
Icahn also disclosed raising that position to 15.5 percent as of March 8th with an average cost of about $36.90 per share. Icahn's original disclosure of a 12.98 percent stake carried an average price of $36.
For his $602 million bet, Icahn is up just $6 million or $7 million.
Conversely, the NY Post today observes that hedge fund giant Bill Ackman, who said he was short about $1 billion of Herbalife last December, may be up as much as $250 million. It's not exactly clear when Ackman went short, but the Post is using a price of $50 per share.
Herbalife was also pressured last week and into this week as the National Consumers League urged the Federal Trade Commission (FTC) to conduct an investigation into the company's practices amid Ackman's claims.
Shares of Herbalife are seeing a little bounce today, up about 0.6 percent early.
According to latest market data, maybe. Herbalife has been anything but a friend to Icahn since he disclosed a large stake in the company last month.
Icahn also disclosed raising that position to 15.5 percent as of March 8th with an average cost of about $36.90 per share. Icahn's original disclosure of a 12.98 percent stake carried an average price of $36.
For his $602 million bet, Icahn is up just $6 million or $7 million.
Conversely, the NY Post today observes that hedge fund giant Bill Ackman, who said he was short about $1 billion of Herbalife last December, may be up as much as $250 million. It's not exactly clear when Ackman went short, but the Post is using a price of $50 per share.
Herbalife was also pressured last week and into this week as the National Consumers League urged the Federal Trade Commission (FTC) to conduct an investigation into the company's practices amid Ackman's claims.
Shares of Herbalife are seeing a little bounce today, up about 0.6 percent early.