Why Herbalife Stock Plunged Today

Why Herbalife Stock Plunged Today

Shares of Herbalife (NYSE: HLF) were tumbling after the company announced a new convertible debt offering, threatening to dilute investors by as much as 20%. In a press release last night, the nutritional supplement company said it is offering $250 million in convertible notes due 2028. The company did not have a conversion price or an interest rate yet, saying those would be determined at the time of its pricing.