Hedge fund titan Bill Ackman, the CEO of Pershing Square Capital Management, appears to be taking his battle with Herbalife, which he calls a “pyramid scheme”, to another level.
If you Google “Herbalife,” you’ll notice that in the “Ads related to herbalife” the No. 2 ad listed is factsaboutherbalife — the website created by Ackman and Pershing Square that tears apart the multi-level marketing company that sells nutritional supplements.
Situated just below Herbalife’s official website, Ackman’s ad has the perfect spot for a potential Herbalife distributors to stumble across and click on, Street Insider pointed out.
What’s more is Ackman has to pay to get an ad in this space and he’ll have to pay every time someone clicks on it.
Check it out:
Photo: Google screengrab
Last week, Ackman gave a brutal three-hour long 342-slide short thesis on Herbalife at a special Sohn Conference event where he called the company a “pyramid scheme.”
He has a price target of zero and believes the company is going to fail.
Herbalife responded to Ackman’s thesis saying that he used “outdated” and “inaccurate” information. The company said it will host an analyst day in January to rebut Ackman’s claims.
Shares of Herbalife have been whacked. Since December 18th, the session before Ackman confirmed Pershing’s short position, the stock has dived 33.41%.