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Shares of Herbalife (NYSE: HLF) sold off following Gasparino's tweet on Friday.

Following heavy stock action throughout the week, Charles Gasparino tweeted Friday afternoon “$Hlf worried state AG's might launch probes into cos biz model; worried that probes cld further depress stk‏”.

Shares declined 1.01 percent following the tweet going from $58.58 to $58.00, before rebounding during Gasparino TV appearance. Gasparino commented that Carl Icahn may take an activist role in protecting Herbalife due to his 16 percent stake in the company.

A Herbalife spokesperson declined to comment on the Gasparino tweet.

Shares of Herbalife gained 1.27 percent on Friday, closing at $58.04.

Posted-In: Charles GasparinoNews

 

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