Despite Ackman's triple-down, [2] Valeant has given up all the after-hours' gains and is rapidly losing last week's "buying spree" dead-cat-bounce rally as Pershing's newly synthetic position in the troubled stock moves deeper in the red...
[3]
As we noted previously, Pershing's position 'proxies' 34.12 million shares at an average cost of $113.76...
[4]
Although his exposure is dramatically non-linear should things not work out (and note he remains even more drastically underwater still even on this newly acquired position).
