Shares Of Herbalife Spike As Company Makes Its Case Against Ackman

Shares of Herbalife are up more than 3 per cent as executives from the multi-level marketing company that sells nutrition products rebut hedge fund manager Bill Ackman’s short thesis. 

The stock has been trading in a range of $39.18 to $40.99.

Ackman, who runs Pershing Square Capital Management, is shorting 20 million shares of Herbalife.  He believes the company is a pyramid scheme and has a price target of zero. 

Since confirming his short, the stock is off 6%.  It had been off more than 38%.

Herbalife is refuting his claims right now.

Check out the chart: 

 

HERBALIFE stock January 10 10:27

Photo: Yahoo Finance

SEE: Herbalife Is Presenting Its Huge Takedown Of Ackman’s Short Case >

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