Reuters/ Lucas JacksonBill AckmanA quick scoreboard check in the battle of billionaire hedge fund titans Bill Ackman and Carl Icahn over nutrition supplement seller Herbalife…
From New York Post’s Michelle Celarier:
Ackman, who once had a paper profit of $480 million, is now down $10 million, according to calculations by The Post.
Icahn, on the other hand, is up $228 million, calculations show.
Ackman, who runs $12 billion Pershing Square Capital, publicly said back in December that he’s shorting more than 20 million shares of Herbalife with a price target of $0. He believes the company is a “pyramid scheme” and the FTC will be induced to investigate.
Just a few weeks later, Ackman’s long-time rival Icahn then snapped up a huge 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.”
“If Ackman gets squeezed I’m not going to feel sorry…” Icahn said in another interview with CNBC, 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 position, Herbalife shares have risen more than 18%. After Ackman revealed his short, we’ve seen the shares dive to a 52-week low of $24.24 and surge back into the $50 range.