Shares of Herbalife are ripping today with the nutrition supplement seller’s stock last trading up more than 8% at $48 per share.
We haven’t seen any news on the stock, yet.
Herbalife is one of the most controversial stocks and it has generated a great deal of dicussion on both the long and short side.
Back in December, hedge fund manager Bill Ackman, who runs $12 billion Pershing Square Capital Management, publicly announced that he’s shorting more than 20 million shares of the stock. Ackman believes the company is a “pyramid scheme” and has a price target of $0.
Not everyone has agreed with him, though.
Ackman’s rival Carl Icahn snapped up a massive stake in Herbalife. Icahn owns more than 16 million shares of Herbalife.
The stock is trading well above the pre-Ackman short level.
Here’s a chart:
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