Activist investor Bob Chapman, who runs Manhattan Beach-based Chapman Capital, was on CNBC’s “Halftime Report” with Scott Wapner moments ago talking about Herbalife and Bill Ackman.
Chapman’s price target today for the stock is $75. He sees the stock going to $300.
“Making money when Bill Ackman is losing money is like a ride at the circus,” he said.
Chapman told Wapner that Herbalife constitutes one of the largest positions he holds in all of his accounts. In some of his accounts it’s over 50%, he said, adding that he reestablished his position in the nutrition supplement seller in the low $40s.
As for Ackman’s massive short, he says that he’s not a guy who can surrender.
“I truly believe that he has a poster of the movie “300” over his bed. He’s not trained in the art of surrender.”
And then for Ackman’s press release about Herbalife’s earnings yesterday, he said “Oh these are good questions to be asking of JCPenney, not Herbalife.”
Ackman told CNBC earlier that he has not covered a single share.