Bob Chapman: Herbalife Will Hit $150 By Summer 2015

Fund manager Bob Chapman showed support for his biggest bet ever, Herbalife HLF, in a segment on CNBC Tuesday.

Chapman says that the stock is worth $300 and will hit $150 within a year.

The Herbalife bull also called out Bill Ackman. According to Chapman, Ackman was admittedly ignorant of Herbalife’s growth drivers (specifically the health clubs), but still touted that the firm is a pyramid scheme.

Shares of Herbalife moved higher following Chapman’s session, making a new day high at $63.50. Be sure to watch Benzinga’s live updates of Tuesday’s Herbalife action.

Shares of Herbalife were last trading at $63.02, up 16.7 percent on the day.