Shares of Herbalife are ripping again today. The stock was last trading up more than 6% at about $52.40 per share early on in the trading session.
We still haven’t come across any news regarding the stock.
Herbalife, a multi-level marketing firm that sells nutrition products, is the stock that Ackman is famously short. Ackman, who runs $12 billion Pershing Square Capital, publicly said back in December that he’s shorting more than 20 million shares with a price target of $0.
Ackman has slammed the company calling it a “pyramid scheme.”
Not everyone has agreed with him. Ackman’s rival, billionaire investor Carl Icahn, snapped up a massive long position in Herbalife.
During an epic brawl on CNBC between the two hedge fund titans, Icahn said, “I will tell you one day I think HLF will be the mother of all short squeezes.”
And in another interview with CNBC, Icahn reemphasized this.
“If Ackman gets squeezed I’m not going to feel sorry…” Icahn said, adding, “The fact that I don’t like Ackman you could say is the strawberry on top of the ice cream.”
Since December 18, the trading session before Ackman confirmed his short, shares of Herbalife has risen more than 15%.
Check out the chart: