Earlier we should you a chart of MLM, a material stock that tanked after David Einhorn slammed it at the Ira Sohn conference.
But there was another stock that people were curious about, and that was Herbalife, a vendor of health products.
Remember, a few weeks ago, Herbalife shares tanked after David Einhorn, out of nowhere, asked some questions on the company conference call about its business model, causing people to assume that Einhorn was short the stock.
And there was a lot of buzz that today at Ira Sohn, Einhorn was going to unveil his anti-Herbalife call.
But he didn’t! Despite a presentation that went over 130 slides, Einhorn never mentioned it all.
And that caused mega-relief among Herbalife investors.
The stock surged 20%!
In this chart below via stockcharts, you can see the big white bar shooting higher today.
One amusing thing: Herbalife sells its wares through multi-level marketing (aka MLM), and the name of the ticker of the stock he is short is MLM. That appears to just be a coincidence.
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