In late April, George Soros revealed a 7.9% stake in J.C. Penney, what if he sales to put heat on Ackman
In late April, George Soros revealed a 7.9% stake in J.C. Penney, a name that Ackman's Pershing Square owns nearly 18% of. It would not surprise me to see Soros use his position in J.C. Penney to put additional pressure on Ackman. By selling his shares, Soros could put additional pressure on J.C. Penney shares over the short-term, which could lead to more negative publicity for Ackman.....
what if Akman sells to put heat on Soros...... Heck what if the both SELL.....LOL
But what if the squeeze in HLF is worth more to Soros than the long in JCP?
Soros very publicly redeems over $1 billion from Pershing.
He then sells the JCP stock, driving the price down and forcing the hand of many Pershing investors on the fence about pulling their money out. If he gets that to happen, he forces Ackman to cover the short to meet the redemptions and the squeeze for the real money is on.
Whatever upside there is in Penney's pales in comparison to a move to $120 in HLF. Not saying it will happen but it's interesting that Soros is in all of these places.
Right on binny. Those boys are loading up. Ackman is so arrogant he is most likely adding another large position so he has even more control over the company. This guy does not give up. EVER. It may kill him in the end, but he won't budge. History proves that.