Herbalife Ltd. (NYSE: HLF) is getting a very strange move in this activist shareholder battle. Last night we noted that Bill Ackman of Pershing Square was out with its summary document stating its case against Herbalife. It did not just dance around the terms “pyramid scheme” lightly.
Now we have a new shareholder having taking a stake, and it is a rather well-known investor. Dan Loeb of Third Point LLC has taken a stake of 8,900,000 for an 8.24% stake. What is so odd is that Ackman and Loeb are not enemies, and they have had positive dealings between themselves and with others in the past.
Herbalife shares were halted, but what is interesting here is that there is no mention of the intent nor any mention of activist intentions. Is Loeb now just betting against Ackman opportunistically?
Stay tuned. The Herbalife situation is one that went from odd to strange to bizarre. Herbalife shares were halted for an upside tripwire of the NYSE circuit breaker rules.
Are You Ahead, or Behind on Retirement?
If you’re one of the over 4 Million Americans set to retire this year, you may want to pay attention. Many people have worked their whole lives preparing to retire without ever knowing the answer to the most important question: am I ahead, or behind on my goals?
Don’t make the same mistake. It’s an easy question to answer. A quick conversation with a financial advisor can help you unpack your savings, spending, and goals for your money. With Zoe Financial’s free matching tool, you can connect with trusted financial advisors in minutes.
Why wait? Click here to get started today!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.