It’s been one heck of a day if you own shares of Natural Health Trends Corp. (NASDAQ:NHTC). After the stock plunged at the open this morning, at one point as low as $15.90 after reports surfaced out of China that the company has their satellite office in Beijing raided by Chinese authorities, a sudden turn of events at around 1:10 p.m. ET shot shares up, while the stock was halted as a circuit breaker was tripped.
Natural Health Trends Corp. (NASDAQ:NHTC) announced that they were refuting any fraud claims and also boosting their buyback from $15 million to $70 million to show the market their confidence. Shares are now trading up over 13% and it appears that the market is siding with Natural Health Trends Corp. (NASDAQ:NHTC) over those making fraud allegations against the company. Ultimately we will have to see what comes from this raid before we could recommend taking a position in this stock.
The stock is up 13.56% or $2.6 following the news, hitting $21.78 per share. About 2.28M shares traded hands or up 225.32% from the average. nasdaq has risen 6.00% since December 14, 2015 and is currently uptrending. It has outperformed the S&P500 by 13.48%.
Natural Health Trends Corp. is a direct-selling and e-commerce company. The company has a market cap of $266.58 million. The Firm offers a line of NHT Global branded products, including wellness, skincare and lifestyle. It has 6.92 P/E ratio. The Firm sells its products to a network of clients or business builders that either uses the products themselves or resells them to consumers.