George Soros Takes A Stake In Herbalife, And The Stock Is Exploding

CNBC’s Scott Wapner breaks the news that legendary hedge fund manager George Soros has taken a long position in Herbalife, according to sources familiar. 

The stock is ripping on the news.

Herbalife, a multi-level marketing firm that sells nutrition products, has been at the centre of an epic clash of hedge fund titans.

Back in December, Bill Ackman, who runs $12 billion Pershing Square Capital Management, publicly revealed that he’s shorting $1 billion worth of Herbalife stock.  He has publicly slammed the company calling it a “pyramid scheme.” 

Ackman and Soros actually work in the same building at 888 Seventh Avenue.

Shortly after making his presentation, rival Daniel Loeb of Third Point amassed a sizeable position, which he exited later for a nice profit. 

Ackman’s arch-nemesis billionaire investor Carl Icahn bought a massive stake in Herbalife. Icahn said he thinks Ackman will be the victim of the “mother of all short squeezes.”

HLF chart

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