Bill Ackman (Trades, Portfolio) said he thinks when Carl Icahn (Trades, Portfolio), a big holder of Herbalife (HLF, Financial), sells his stake, the "confidence factor" in the company will evaporate. "If he can sell this thing at 60 bucks and almost double his money, great for Carl. And he doesn't have to worry about what happenes to the company when they're required to completely change their business model," Ackman said. "I think he knows this thing is toast."
Ackman has had a large short position in Herbalife since 2012. The stock has gained 12% year to date in spite of a Federal Trade Commission ruling in July that it is not, as Ackman declared, a Ponzi scheme.
