Bill Ackman is back in the red again on his infamous Herbalife short

It looks like hedge fund manager Bill Ackman, the CEO of $19 billion Pershing Square, is back in the red on his infamous Herbalife short.

Shares of multi-level marketer Herbalife are ripping. The stock was last trading up $6.20, or 14.73%, at around $48.30.

In an interview with Bloomberg TV on March 13, Ackman said that Pershing Square "shorted the stock around $47 or $48." He also said that if you add the various expenses, the breakeven price was "something in the mid-30's."

The stock's trading well above that threshold right now.

Just last week, Herbalife, which sells weight loss shakes and nutritional supplements, won the dismissal of a shareholder lawsuit in California that alleged that the company is an illegal pyramid scheme.

Pershing Square later commented in a statement that the court's decision "did not address in any way whether Herbalife is an illegal pyramid scheme, nor did the Court exonerate or bless Herbalife's business practices."

For more than two years, Ackman been very publicly crusading against Herbalife. It's Ackman's contention that the company operates as a "pyramid scheme" that targets poor people, especially in the Latino community. Ackman, who has said he will take this "to the end of the earth," is betting that the stock goes to $0.

Herbalife has repeatedly denied Ackman's allegations.

Here's a 5-day chart of Herbalife: