Shareholders in Herbalife and NuSkin experienced a roller-coaster day on Monday as a result of the battle Bill Ackman, Founder and CEO of hedge fund Pershing Square Capital Management, continues to fight against Herbalife.
Monday saw a pre-market drop of over 11 percent in Herbalife’s shares, along with a drop of over 4 percent for NuSkin in a sympathy play. The dip followed a New York Post report that the Federal Trade Commission has launched an investigation of Herbalife.
Herbalife shares rebounded later in the session, following a report by FOX Business’ Charlie Gasparino that Herbalife executives were claiming no knowledge of FTC intent or interest in an official probe.
