As I predicted a few months ago, the Wall Street attack on direct sellers continues.
You may recall in May the news from the Wall Street Journal about short sellers taking on Herbalife and USANA for alleged improper crediting of personal consumption figures toward revenue. The actions of a few short-sellers sent industry’s public stocks into a tailspin as the herd reacted to these irresponsible — and erroneous — claims.
Now CNBC reports that NuSkin has been named in a report by short-seller Citron Research as allegedly operating a “pyramid scheme” in China by merely existing as an MLM. Citron, run by short-seller Andrew Left, alleged on its website Tuesday that Nu Skin’s direct-selling business in China was actually “pyramid-selling” and was illegal under Chinese law.
Of course the Chinese are aware of the direct selling model — they licensed it! NuSkin has been in China for eight years and has been reviewed every year by the government.
Another cynical attempt by greedy stock profiteers to gain from the pain of others.
How do they sleep at night?