Herbalife Drops After Ackman Says He’s Shorting Shares
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Herbalife Ltd., the maker of weight-loss and nutritional supplements, fell for a second day as hedge fund manager Bill Ackman said he’s more certain about his short position on the company than he’s ever been in an investment.
The shares fell 10 percent to $33.51 at 2:55 p.m. in New York after sliding 12 percent yesterday, which was the biggest decline since May 3. Cayman Islands-based Herbalife had dropped 18 percent this year through Dec. 18.