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.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: CNBCNewsHedge FundsHotMediaGeneralBill AckmanBob Chapman
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!