Herbalife Spikes Up Amid CNBC Report That Bill Stiritz Has Increased His Stake

Herbalife Ltd. HLF spiked up approximately 3.5 percent shortly before noon Friday amid comments from CNBC’s Scott Wapner.

Wapner commented that Post Holdings Inc POST Chairman and CEO Bill Stiritz holds 8.2 percent of Herbalife’s stock and that Stiritz has not sold any of his stake during the recent pullback, rather, Stiritz has bought more shares.

Sources told Wapner that Stiritz has great confidence in the Herbalife business model.

After spiking, shares of Herbalife Ltd, pulled back and recently traded at $34.45, up 0.38 percent.