When the new auditor is finally put in place, it should be worth a 10% pop in HLF stock price. This should be very concerning to the short sellers here. We all know it will happen but we just dont know when. All longs are advised to hold until this becoms clear.
I agree, I used the dip in share price due to the idiot from KPMG to add shares. It has been nothing but positive trading since that point. Announcement of a new auditor will be good since an audit firm will have access to confidential information and performed better due diligence than any short given the current hedge fund dog fight into which the new auditor will be entering. Given the stakes, that should pierce Ackmann's $0 hypothesis.
The only way I think it would turn out to be bad is if the new auditor is some odd ball mid-tier firm given HLF's statements about the complexity of the business, its global reach, and the need for someone who can handle those requirements. Obviously the Big 4 have that experience and BDO at least likes to advertise it. Anyone outside of those ranks and it will be a choice that must be digested carefully.
Any auditor that signs up for this pyramid scheme of a company is absolutely insane. Probably get a one man shop in podunk USA but that is about it. That or as mentioned yesterday, Bernie Madoff from his prison cell. How pathetic is a company that can't even pay top dollar to get someone to audit the books? Absolutely pathetic is the answer.