Hain Celestial Higher After Audit Reveals No Wrongdoing

Hain Celestial Group Inc HAIN shares are trading higher by $3.00 (9 percent) at $38.82 in Thursday's session. After Wednesday's close, the company said it found no evidence of intentional wrongdoing and has begun to implement a remediation plan to strengthen the organization.

Despite the rally, the issue is still a long ways away from its close on August 15 ($53.40), the day before accounting issues were first raised about the company.

Off the open, the issue immediately found resistance ahead just ahead of the high from August 16 ($40.35), only reaching $39.60. So far, the retreat has found support ahead of the upper-end of Tuesday's range ($36.22) at $37.85.

The rebound off the low stalled at $39.22 and the issue is attempting to remain in the $39 handle.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: TechnicalsIntraday UpdateMoversTrading Ideas
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!