Yesterday, billionaire investor Carl Icahn reported a massive 12.98 per cent stake in Herbalife that is sending shares surging right now.This puts pressure on hedge fund giant Bill Ackman, who has built up a massive short position against the stock. Central to Ackman’s investment thesis is his belief that Herbalife is a pyramid scheme.
This morning, CNBC’s Scott Wapner reports Ackman’s first response to Icahn’s recently disclosed position.
According to Wapner, Ackman continues to believe with certainty that Herbalife is a pyramid scheme. He also says his conclusion is unaffected by who is on the other side of his short position.
Regarding Icahn’s investment, Ackman says he welcomes it if it helps shine a a light on Herbalife.
Last month, Ackman and Icahn engaged in a war of words riddled with accusations and profanities live on CNBC.
Carl Icahn is schedule to be on CNBC at 12:00 PM ET today.