Herbalife, the seller of nutrition drinks that is famously being shorted by Bill Ackman has been halted!
According to Bloomberg, news is pending.
Whereas Ackman is short the company — which he regards as a fraudulent pyramid scheme — other hedge funders have gone long the stock including Carl Icahn.
The battle over Herbalife is seen as not just a battle about one stock, but rather an fantastic clash of egos, with the Herbalife as the McGuffin.
Ackman has had it rough of late, thanks to the decline in JCPenney, which is a big holding of his.
The failure of his grand design for JCPenney was basically confirmed yesterday, when CEO Ron Johnson was ousted.
Back to Herbalife, it’s possible that Icahn will make another move, twisting the knife even further.