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Icahn Adds Another Two Million HLF Shares, Now Owns 15.5% Of Company
Icahn wasted exactly zero time to take advantage of Herbalife's board expansion last week which gave him permission to build up his HLF stake to 25%.
Moments ago the billionaire corporate raider just announced the purchase of another 2 million shares of HLF stock, taking his total to 16 million shares, or 15.5% of the company, up from 13.6% previously. Scarier for the shorts is that unlike before, Icahn is no longer pussyfooting with costless collars and is buying the shares outright at a blended cost somewhere in the upper $40/share range. The end game here is now very clear: build up a sufficient stake in the company to where the the shorts outstanding are greater than the open float, at which point the stock borrow is pulled creating an epic squeeze, just as we predicted would happen back in December.
What is tangentially quite amazing is that according to the just filed 13-D, Icahn bought nearly 2% of the company in three short trading days, and without moving the price materially. In fact, of today's entire 4.1 million share volume, Icahn's bid-side VWAP algo was responsible for a stunning 1.5 million shares, or 36% of the total.
What spurred the buying surge? Who knows, but perhaps the recent epic collapse in Icahn's other infamous position, his JCP long which is imploding day after day, Icahn decided to hep out with the margin call. Who knows - perhaps Icahn is even short JCP. Of course, the reason he is a multi-billionaire is that unlike Ackman, he will not tell anyone until he is out of the position.
Will Icahn continue buying HLF every day? You bet: the moral of the story then and now: you don't piss off a multi-billionaire on primetime TV whose only thought afterwards is how to piss on your grave as fast as possible.
and here's how the algos can push that much new flow through a stock and hardly budge the price close-to-close - still convinced of the money-on-the-sidelines argument?
And remember:
That Icahn is out there. He can't be bargained with. He can't be reasoned with. He doesn't feel pity, or remorse, or fear. And he absolutely will not stop, ever, until Ackman is destroyed.
Behold: the Icahnator
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OT: Is it true? http://dailycurrant.com/2013/03/06/paul-krugman-declares-personal-bankru...
It is only true if it shows up in The Onion.
Thats how you do it.
Wash > Rinse > Repeat
Maria Bartilromo: Mr Ichan, or can I call you David? (massive toothy smile)
Carl Ichan: My name is Carl, Maria. Don't you remember? Even over the weekend when you were over at my house for dinner I had to keep correcting you. Carl. My name's Carl. (rolls eyes)
Maria: Oh yeah. OK, Donnie, why do you keep buying that spice company stock?
Carl: Jesus, Maria! It's not a goddamned spice company it's... (interrupted)
Maria: Whatever... but why do you keep buying the stock, Bob?
Carl: (screaming, spraying spittle all over her face) Because I hate that little fucker, Maria.
Maria: Who's Maria?
Didn't something similar happen with Volkswagon (or was it Porsche?) stock a few years back?
VW, Porsche drove the squeeze.
Who gives a shit
The rockies are about to blow their guts out. If you are on the west coast.
Run.
Europe in Northern hemi, RUN.
Don't look back.
The Yellowstone Caldera?
Give me warning, I'm going to need some time (in the Intermountain West).
No.
Larger. Much larger.
Or relax. Talk of guns...retardation...fire one at your own peril after May. First one to fire one, is the man in the story book.
http://climate.cod.edu/flanis/satellite/2km/index.php?type=MS-vis-48
Watch for the vents opening.
.
The Currant is a daily dose of humor....
Like "Why Anne Coulter wouldn't get on a plane with a black pilot?"
ah hem....
Seriously....
Edit: Well, looks like it's being picked up elsewhere. LOL
Gonna fry that little narcissist's squeeze box
I hope the best outcome happens here, that Icahn destroys Ackman in a short squeeze then, down the track, Ackman turns out to be right regarding HLF being a pyramid/ponzi scheme and Icahn gets wiped too. Two less Wall St cunts sleazing around.
Icahn doesn't give a shit if he eventually loses money on HLF, as long as he sticks the knife in Ackman. He's got a lot more money in his bank account, and the notoriety (if that's the right word) he would acheive by pulling this off? priceless.
Yeah, HLF could wipe to zero and Icahn probably wouldn't give a shit so long as he hammered Ackman. Would hardly make a dent in Icahn's bank account. As for the notoriety though, all it would prove is that Icahn is an even bigger cunt than everyone already thought, which means he scores approximately 11/10.
Why did you do this to me?
Because I cahn.
He will be gone in two weeks after his announcement of his retirement.
Media will say something, but life says something else.
I'can is laughable.(another CNBS shill)< I like the guys tenacity, but come on Carl? Don't you have better things to do in your "Golden Years"?
Take over Blackwater and build some doomsday bunkers. Start a new bank, since they can safely(caugh) lend again. Get creative Carl.
What ever happened to Clorox Carl? That looked like a good deal.
Are you kidding? Icahn probably hasn't enjoyed himself this much in years.
"Don't you have better things to do in your "Golden Years"?"
Look at his face--of course he doesn't. But don't worry--we can all laugh at his cancer in a few years...
Who REALLY gives a shit?
What, you're not interested in "frat-boy handbag fights?"
h/t EclecticParrot
HLF is a pyramid scheme, a Ponzi, but no one cares.
Just like the markets.
JEW-brawl-LIFE
BREAKING NEWS
Ackman announces he has covered HLF short.
BREAKING NEWS
Ackman says, "I set it up to sucker Icahn." "I won - Carl is stuffed".
BREAKING NEWS
Financier Carl Icahn sent to Bellevue after, "Uncontrolled anal discharge". Reports from witnesses say the event occurred at the main ballroom of the Astoria hotel. Icahn become ill after reading a Tweet that Ackman had covered his HLF short. He was heard saying as he was led away, "I'm long and wrong, I'm long and wrong."
I wish......
Carl is stuffed Bruce. Your comment isn't off base. I'Can has to unwind the position, and has to hire management, being the new principle. I'm sure Carl has an exit strategy though? (churn-em & burn-em) Carl.
Ah, the famous Waldork-Astoria Escolar Luncheon
Seriously! I've had food poisoning one time in my life and it was after eating the Waldorf Salad there once. For the handful of dinners I've attended there over the past 20 years, I've always found the uncooked meats and fish to perfectly complement the burned vegetables.
Ackman wont get wiped out. He may lose some money, investors, but this is no do or die for him.
I never understood what he was trying to do with this short. it was one thing to take on mbia who were picking people's pockets, or buy ggp for pennies on the dollar with all their assets, but another to try and take out a fruit/diet drink manufacturer. Did not make sense to me
build up a sufficient stake in the company to where the the amount of shares outstanding is greater than the float, at which point the stock borrow is pulled
This doesn't make any sense. Shares outstanding is always greater than the float.
Was a Typo, but Tyler caught it. Now reads SHORTS outstanding.
In theory, you have to borrow the stock to short it, but I think the big boys still get to use a "best efforts to borrow" standard, which means they don't have to do squat. If Bruce is still on, he would know how real the squeeze threat is. I wouldn't touch the damn thing.
I read that a few times too and went cross eyed.
Tylers fixed it.
Back to normal vision, thanks
Why isn't this guy {Ican} broke and on skid row by now? He's not that smart. I remember when he offered $22 a share to buy out WCI Communities {they went bust a year later}. The only people more stupid were the board members that voted down the offer.
"I liked it so much, I bought the company"
"...build up a sufficient stake in the company to where the the shorts outstanding are greater than the open float, at which point the stock borrow is pulled creating an epic squeeze, just as we predicted would happen back in December."
Similar thing is about to happen in another beaten down dog (USU). Take a look at the action on it over the past month. Accumulation Buffet style.
Buffet style does not entail posting stupid @ss comments on finane boards about penny stocks.
Icahn has failed to apply the "don't get high on your own supply" rule.
He was last seen running amok, claiming to be the "lizard king", whatever the fuck that means.
KHAAAAAN!!