Whitney Tilson Says More Confident of Herbalife Short Position Following Ackman Presentation
Whitney Tilson said in an email Tuesday, that he is more confident in his short position in Herbalife (NYSE: HLF), following Bill Ackman's presentation. Tilson said he now believes his position has a 76% chance of succeeding vs 63% prior. That's based on his belief that there is a 95% chance most of the company's operations are a pyramid scheme, and there is now an 80% chance regulators will intervene.
Herbalife shares rose steadily throughout Ackman's presentation Tuesday, and end the day up 25% at $77.67
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