Why Herbalife Stock Dived by 9% Today
Herbalife(HLF) The Motley Fool·2024-04-02 05:52
Herbalife (HLF -9.35%) is going to the well for a pile of new debt financing, and investors aren't very happy about it. Following the company's announcement that it is floating hundreds of millions of dollars of new debt securities, investors aggressively sold out of the shares, to the point where they fell by more than 9% in price on Monday. That was a far higher number than the 0.2% decline posted by the S&P 500 index on market close.That morning, Herbalife disclosed that a pair of its fully owned subsidi ...