Fox Business Network's senior correspondent Charlie Gasparino is getting some dirt on the Bill Ackman versus Dan Loeb battle over Herbalife at the SALT conference in Las Vegas.
— Charles Gasparino (@CGasparino) May 9, 2013
— Charles Gasparino (@CGasparino) May 9, 2013
That's really harsh.
Apparently Loeb didn't name Ackman specifically, but we can all figure out who he was talking about. Also, Loeb's panel at SALT was reportedly off the record.
— Jeff Cox (@JeffCoxCNBCcom) May 9, 2013
Back in December, Ackman, who runs $12 billion Pershing Square Capital Management, gave a massive 342-slide presentation slamming Herbalife. Ackman has publicly called the nutrition supplements seller a "pyramid scheme" and has a price target of zero.
Not long after Ackman publicly announced his short, Loeb, who runs Third Point LLC, revealed a big stake in the company. He called Ackman's claims "preposterous."
According to Gasparino's source, Loeb is out of the stock now.
Shares of Herbalife are currently trading above $45. That's well above the pre-Ackman short levels.
Since December 18, the trading session before Ackman's short position was revealed, the stock has climbed more than 2.7%. The stock nose-dived on Ackman's short announcement, but has since rallied back above those pre-short levels.
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