Ackman Was Right
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Remember Herbalife (HLF)? That was the firm engaged in some very, very sketchy sales practices (basically a giant pyramid scheme) that Bill Ackman had shorted. His archenemy, Carl Icahn, went into a very public war with Ackman, since Icahn was very long HLF. Eventually, Ackman couldn’t take it anymore, and he gave up the fight right near the peak.
You don’t need to be told what happened next. Ackman’s condemnation of the company was right all along.
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Or maybe Ackman bad mouthing and shorting the stock is what caused it to drop.