Icahn Reveals Herbalife Stake, Stock Climbs

US NewsFriday, billionare investor Carl Icahn revealed his investment position in Herbalife.

In what has become a clash of the Wall Street titans, Icahn paid $214 million for 14 million Herbalife shares, amounting to a 13 percent stake in the company. Icahn takes the opposite position of short seller Bill Ackman, who has alleged that Herbalife is a pyramid scheme and avowed to drive the stock price to zero. Icahn’s action immediately sent Herbalife’s stock price climbing, with shares jumping as much as 20 percent in after-hours trading on Thursday. Friday’s trading bumped the stock up 5 percent to close at $38.27 a share.

Read the full story here.

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Direct Selling News Magazine has been serving direct selling and network marketing executives since 2004. Each issue of Direct Selling News offers content on topics that shape the dynamics of our industry.

One Response to Icahn Reveals Herbalife Stake, Stock Climbs

  1. Pingback: Letter from John Fleming, April 2013 | Direct Selling News Blog

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