Herbalife Spikes To Record High On Bass Bullishness And Icahn’s “No Sale”

Following Kyle Bass' earlier comments on Herbalife's ability to tap the capital markets for a major buyback:

• *HERBALIFE WILL BE ABLE TO BORROW AS MUCH AS $2B, BASS SAYS
• *YOUTH UNEMPLOYMENT MIGHT ENCOURAGE MLM GROWTH, BASS SAYS
• *BASS SAYS HERBALIFE CATALYST WILL COME IN 60 DAYS AFTER AUDIT

an HLF spokesperson has noted that Carl Icahn will not be selling (following the stock's close above a key level that enables him to sell). This has sent the stock to $77.39 – an all-time high.

• *HERBALIFE SAYS ICAHN HAS NO PRESENT INTENTION TO SELL SHARES

We can only imagine how Ackman feels as day after day of theta is sucked out of his puts…

As D.A.Davidson Analyst Tim Ramey notes:

Icahn’s lockup provision was to expire Feb. 28, 2014, or upon 5-day VWAP reaching $73 or more

 

Icahn subject to other insider trading restrictions; he can’t buy/sell in windows that are closed to insiders, such as if HLF was working on deal or had info about audit status

 

 

via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/D8BWfg3gBtI/story01.htm Tyler Durden