Herbalife Ltd. (NYSE: HLF)
Herbalife has had a rough time in the market as of late, and for good reason. The company has had quite a bit of bad news falling on top of it lately. As a result, the stock has been falling and continues losses today. Nonetheless, we’re starting to see some upward movement as acquisition hopes flood social media. Below, we’ll talk about what we’re seeing from the stock, why, and what we can expect to see ahead.
What We’re Seeing From HLF
As mentioned above, Herbalife is having a rough day today, advancing on declines we’ve seen recently. However, minutes ago, we saw a small spike in the value of the stock. Nonetheless, HLF is still down in a big way today. Currently (12:34), the stock is trading at $53.84 per share after a loss of $5.28 per share or 8.93% thus far today.
Why We Saw The Spike
As mentioned above, while HLF has had a rough day in the market thus far, the stock recently spiked upward, taking away some of the losses. The reason for this has to do with a statement made by Bob Chapman on CNBC. In the statement, Chapman said he is going long because he expects for Icahn to make a bid for the company.
What To Expect Ahead
There’s no denying the fact that Herbalife is in trouble at the moment, nor that Carl Icahn has a large stake in the success of the company. However, neither he, nor HLF have expressed that an acquisition might happen. All in all, while Icahn could save the company by making a bid, I’m not sure that he will. Nonetheless, this is going to be a fun one to follow!
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[Image Courtesy of Wikimedia]