The Wall Street Journal is reporting that the
Following the news, Herbalife sold down sharply, more than $3 to hit a low of $36.28 after trading at $40.58. Since then, it has bounced to above $40 a share.
Hedge fund titan
Today, Dan Loeb, the founder of Third Point, disclosed a massive long position in Herbalife. Third Point has 8,900,000 shares, or an 8.24% stake in the company.
Check out the chart:
CQG |