01 Mar 2018 --- Pershing Square Capital Management CEO William Ackman has reportedly dropped his bet against Herbalife, five years after getting into an on-air spat with fellow investor Carl Icahn on CNBC. Ackman took a US$1 billion short position against Herbalife, after accusing the company of running a “well-managed pyramid scheme.” Although Ackman had expected the shares to fall to zero, Herbalife stock hit a new high of nearly US$96, with shares closing up 6.3 percent at US$92.10, following the news on Wednesday.
