Herbalife Hits A New All-Time High

Herbalife's stocking is making new 52-week highs today.

The stock was last trading up more than 3% at about $73 a share. The stock has been trading in a range of $70.67 to $73.71 during today's session.

D.A. Davidson analyst Tim Ramey thinks Herbalife will announce a big leveraged buyback after its audited financials are released in the next couple of weeks.

Bill Ackman of Pershing Square Capital probably hasn't liked seeing the stock go up against him day after day.

Ackman, who runs Pershing Square Capital, said last December that he's short $1 billion worth of Herbalife stock. He believes Herbalife is a "pyramid scheme" that targets lower income individuals, especially from the Hispanic population.

The stock price has rocketed more than 66% since Ackman confirmed his short late last year.

Ackman's long-time rival Carl Icahn and a number of other fund managers have publicly disagreed with his short thesis and have gone long the stock.

Right after Ackman gave his presentation, Icahn amassed a 16% stake in the company. He believes Ackman will be the victim of the "mother of all short squeezes."

What's more is Ackman told CNBC at the end of July that he had not covered a single share of Herbalife.