I'll leave aside the merits of the short side argument as espoused by Ackman.
What I find interesting is his overall gambit. You could say yesterday was his panic/crescendo moment. He's been trying his level best to destroy the company. In prosecutorial style he presents his argument to the court of public opinion from the pulpit of business media. Of course it's a self-serving argument and such, but it is what it is. You have to ask yerself a basic question...Ackman is not a prosecutor. He's the personification of a certain element on Wall Street. Basically a finance type. A runner of Hedge Funds. If he feels so strongly why not just turn over his evidence to the authorities and let the legal wheels grind fine? Probably two reasons...first...when do his options expire? (Heh). But secondly...he doesn't have solid enough proof....so...in running his gambit he's hoping to inflame the opposition. Perhaps to the extent that they'll try to sue him? In which case they walk into his trap....he'll have pulled them into a legal court whereat he can continue his gambit. If the opposition does not rise to the bait....well...he's left urinating in the wind....so to speak.
In any case all of this is a fascinating looking into the halls of greed and avarice of Wall Street. All just my 2pennies worth.
Please.............Ackman for the good of mankind ? This is Wall Street this was about saving his cookies when he opened this short position and it initially worked just fine but with these broad sweeping statements and claims of zero was so far over the top it was a parody of a Hedge Fund Manager. There was a successful short by Einhorn and then he went long at Ackman's expense. Chapman , Ichan , Soros and Stirritz all went long. Ichan and Soros have no problem with shorting but they chose long. Ackman allowed his ego and his own exhaust choke him and now he wants the regulators to bail him out. Not going to happen. This gambit was more of a cry for help. He can see this is unwinding in an unfavorable way and this was his Hail Mary. Intercepted.