No one knows what he payed. He probably was shorting it in the 70s though. These other hedge fund guys all hate him, so they are ganging up on him in a war of billionaires. Meanwhile, HLF is still under investigation, and no result has been given.
The details came out Thursday, when Icahn disclosed a 12.98% stake in Herbalife, a holding of just over 14 million shares (including shares underlying call options).
With Icahn now in play, billionaire hedge fund managers control more than 20% of Herbalife’s shares; Daniel Loeb‘s Third Point revealed an 8.24% stake January 9. (See “Loeb Calls Ackman’s Short Thesis ‘Preposterous’”)
The stock popped more than 20% in after-hours trading to $46.09, setting the stage for further pressure on short sellers Friday.