Shares of Herbalife Sell Off Following Gasparino Tweet
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.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.