Shares of Herbalife are up more than 43% since the beginning of March.
And it looks like hedge fund manager Bill Ackman, the CEO of $19 billion Pershing Square, is back in the red on his infamous $1 billion Herbalife short.
Shares of multi-level marketer Herbalife ripped higher on Monday. The stock rose $2.89, or 6.86%, to end at $44.99.
In an interview with Bloomberg TV on March 13, Ackman said that Pershing Square "shorted the stock around $47 or $48." He also said that if you add the various expenses, the breakeven price was "something in the mid-30's."
The stock's trading well above that threshold right now.
Just last week, Herbalife, which sells weight loss shakes and nutritional supplements, won the dismissal of a shareholder lawsuit in California that alleged they lost money because the company misrepresented itself when it's actually an illegal pyramid scheme.
Pershing Square later commented in a statement that the court's decision "did not address in any way whether Herbalife is an illegal pyramid scheme, nor did the Court exonerate or bless Herbalife's business practices."
For more than two years, Ackman been very publicly crusading against Herbalife. It's Ackman's contention that the company operates as a "pyramid scheme" that targets poor people, especially in the Latino community. Ackman, who has said he will take this "to the end of the earth," is betting that Herbalife's stock goes to $0.
Herbalife has repeatedly denied Ackman's allegations.
Here's a chart of the stock since the beginning of March:
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