Reuters: Global Markets: Herbalife shares pounded again, down 20 percent

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Herbalife shares pounded again, down 20 percent Dec 21st 2012, 18:18 Fri Dec 21, 2012 1:18pm EST (Reuters) - Shares of Herbalife (HLF.N) plunged again Friday, feeling the brunt of heavy selling in a week where prominent short-seller Bill Ackman called the company a "pyramid scheme." The stock was down more than 21 percent, making it the biggest loser Friday on the New York Stock Exchange, to fall to $26.25, a new 52-week low. The selling continues a bad run for the stock, which has been hit hard in recent days as Ackman said he was shorting the stock, giving a three-hour presentation Thursday where he said the weight management company's model unsustainable. Shares are down 37 percent in the last three days and it has lost nearly two-thirds of its value since hitting a 52-week high in April. Ackman has targeted Herbalife via one of his biggest short positions in years. More than 23.6 million shares had changed hands on Friday, far surpassing the 2.8 million shares traded on average over the past 50 days. (Reporting By David Gaffen; Editing by M.D. Golan)

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