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Carl Icahn Backs Herbalife

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Herbalife (NYSE:HLF) is up more than 11% in today’s trading session after Carl Icahn revealed that he increased his stake in the company to over 14 million shares.

© Mike Hodges

Over the past several months, several of Wall Street’s most famous traders have been battling over whether the company is a ponzi scheme. Bill Ackman seems to think it is. David Einhorn and Carl Icahn have come out in defense of the company.

With earnings due out next week on February 19th, investors should get more color from the company on what exactly is going on.

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