Nu Skin shares drop as investigation begins in China

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nu-skin-buildingNu Skin Enterprises Inc. shares dropped Thursday afternoon as a result of an investigation in China concerning the business’ involvement in the country.

The investigation comes after a state-run People’s Daily ran a story stating Nu Skin’s coaching methods were similar to brain washing and suggesting that Nu Skin was part of a pyramid scheme. On Thursday, China’s State Administration for Industry and Commerce ordered an investigation.

“As we work through this evolving situation and remain focused on long-term growth, there will likely be a negative impact on China revenue, but it is too early to know whether our previous guidance will be affected,” Nu Skin said in a statement.

Read the full story by the Associated Press here.

 

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Rebecca Lane

While her first language is sarcasm, Rebecca dabbles in English and Russian to achieve her lifelong dream of being a journalist. A BYU sports fan, reading enthusiast and wannabe world traveler, Rebecca is a Colorado transplant that is convinced Colorado's mountains are much larger than the many Utah County peaks. Rebecca manages UtahValley360.com for Bennett Communications. Follow her on Twitter @rebeccalane.

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