'The idea that my appearance pushed the market down an additional 4% that day is absurd,' Ackman told investors on Thursday.
At that time, Ackman warned that hotel-operator Hilton Worldwide was "going to zero ... along with every other hotel company in the world," said thatand cautioned U.S. companies to stop their stock buyback programs because "hell is coming."
Ackman explained on March 3 that he'd purchased the default swaps as hedges against the market if efforts to contain the novel coronavirus had a "substantial negative impact on the U.S. and global economies" as he thought likely. But some argued that his appearance on CNBC on March 18 was intended to sew further fear and increase the value of the swaps.
But Ackman reiterated that he had said in the interview on March 18 that he had already started adding to Pershing's existing stock holdings since equitieslooked cheap amid the historic market sell-off.
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