NEW YORK, NY / ACCESSWIRE / October 9, 2017 / Herbalife's shares were popping on Friday after the company revealed preliminary results of a self-tender offer. The stock soared to their highest trading price since 2014 on the news. Shares of Shopify closed down again, making it the third day of losses for the stock after a report from Citron Research last week said the company was a "get rich quick" scheme.

RDI Initiates Coverage on:

Herbalife Ltd.
https://rdinvesting.com/news/?ticker=HLF

Shopify Inc.
https://rdinvesting.com/news/?ticker=SHOP

Herbalife Ltd.'s shares closed up 11.15% on Friday with almost 7.6 million shares traded. The stock even hit a new high of $75.75 during intra-day trading. Shares climbed higher after the company revealed the results of a self-tender offer. Herbalife has offered to buy up to $600 million of its stock back from investors at a price between $60 and $68 and the company said it acquired 6.7 million shares in that range. This was a reassuring move according to traders as it leaves fewer shares available for short sellers to sell. One of the biggest short sellers of Herbalife is Pershing Square Capital Management's Bill Ackman who has a disclosed $1-billion short position on the stock. According to Ackman, Herbalife is a pyramid scheme. Herbalife has denied this claim. Shares of the stock have gained over 50% this year so far.

Access RDI's Herbalife Ltd. Research Report at:
https://rdinvesting.com/news/?ticker=HLF

Shopify Inc.'s shares closed down 2.50% on Friday with nearly 7.8 million shares traded. It has been a week of losses for the stock after a short seller had some very bearish remarks about the company. It was on October 4th that a report from Citron Research's Andrew Left said that Shopify is a "company that hides under the shroud of a cloud-based e-commerce solution for Small and Medium-sized Business (SMB)." In Left's opinion, the company is the "promoter of the hottest new 'get rich quick' scheme on the internet." The fact that Left has had good calls on Valeant Pharmaceuticals and BlackBerry, traders have been nervous about his latest remarks on Shopify. Left also gave the stock a $60 price target. Considering shares of the stock closed at $97.92, the price target was pretty concerning. Since the October 4th report, shares have fallen as much as roughly 15%. "We vigorously defend our business model and stand resolutely behind our mission and the success of our merchants," the company defended in a statement.

Access RDI's Shopify Inc. Research Report at:
https://rdinvesting.com/news/?ticker=SHOP

Our Actionable Research on Herbalife Ltd. (NYSE: HLF) and Shopify Inc. (NYSE: SHOP) can be downloaded free of charge at Research Driven Investing.

Research Driven Investing

We are committed to providing relevant and actionable information for the self-directed investor. Our research is reputed for being a leader in trusted, in-depth analysis vital for informed strategic trading decisions. The nimble investor can leverage our analysis and collective expertise to execute a disciplined approach to stock selection.

RDInvesting has not been compensated; directly or indirectly; for producing or publishing this document.

Disclaimer: This article is written by an independent contributor of RDInvesting.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. RDInvesting.com is neither a registered broker-dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

CONTACT

For any questions, inquiries, or comments reach out to us directly at:

Address:

Research Driven Investing, Unit #901 511 Avenue of the Americas, New York, NY, 10011

Email:

contact@rdinvesting.com

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: RDInvesting.com