Herbalife Shares Soar – Short Seller Sours
Herbalife Shares Soar – Short Seller Sours (TheStreet)
Herbalife (HLF), the nutrition supplement company, saw its shares return to near 52-week highs after its new auditor — PricewaterhouseCoopers — finished scrutinizing its financials from 2010 – 2013. While the results of this re-examination haven’t been made public yet, just the news that PwC finished its audit was enough to send Herbalife shares soaring $6. But not every investor involved with the supplement company reveled in the good news. Short seller Bill Ackman likely watched in horror as shares ascended. His hedge fund, Pershing Square, has a monster short position on HLF — about 12 percent of the funds’ funds, as it were — meaning he’s got about a billion dollars tied up in the company’s demise. Sorry Bill. The rest of those involved with Herbalife shares are watching their upward climb and supplementing their wealth.