Carl Icahn Buys More Herbalife (HLF) Putting Rumors To Rest

Shares of Herbalife soared higher on Monday after news revealed that Cal Icahn had bought more shares of the company.

Last week hedge fund manager Bill Ackman, who has been a long time shorter of Herbalife, revealed to SquawkBox that Icahn may be wanting to sell his shares now beause “he’s made a bunch of money” and that “he knows this is toast.”

According to Ackman, Icahn “came to me” through investment bank Jefferies Group with a proposal in early August to “cover my short” position.

Icahn told CNBC late Friday that he bought 2.3 million Herbalife shares.

Herbalife shares are up 3.3% to $62.52 for year-to-date gains of 17%.

Disclaimer: We have no position in Herbalife Ltd. (NYSE: HLF) and have not been compensated for this article.

Sofia Vida

Sofia has been writing for major news outlets for over 15 years. In her spare time she enjoys hiking, walking her dogs, and going to concerts.

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