Today marks the one year anniversary when hedge fund manager Bill Ackman gave a historic 342-slide presentation detailing why he's short Herbalife.
A year ago, Ackman, who runs Pershing Square Capital Management, took the stage at a special Sohn Conference in Midtown Manhattan and slammed Herbalife for being "pyramid scheme" that targets lower income individuals.
He's been betting the company will go to $0. It's his belief that regulators will be persuaded to investigate the company and shut it down.
In the days following the presentation, shares of Herbalife tanked to an all-time low of $26.06.
Since the day of the presentation, though, shares of the multi-level marketing company that sells nutritional products have skyrocketed more than 136 percent.
The shares are continuing to push higher today into the $81 range hitting a new all-time high of $81.75. The stock was last trading up more than 2 percent.
A handful of hedge fund managers, most notably Ackman's arch-nemesis Carl Icahn, piled on during the last year by going long the stock. Icahn, who has a huge stake in the company, has said be believes Ackman will be the victim of "the mother of all short squeezes."
In early October, Ackman repositioned his $1 billion equity short by swapping about 40 percent of it for put options in an effort to reduce risk.
Despite having hundreds of millions in mark-to-market losses so far, Ackman has continued to remain confident in his short. He has even said that he will take this to "the end of the earth."
Below is our timeline of events:
Image may be NSFW.
Clik here to view.
