Seeking Alpha:
Alex Shadunsky submits: USANA (USNA)
is a health and beauty company. It produces, researches, and sells
health and beauty products mostly through a Multi-Level Marketing
operation (direct selling). Its growth has been phenomenal and it has
been publicly traded since 1992.Its
stock has appreciated from $.60 a share in 2002 to a high of over $60 a
share just within the past few months. In the past few months all sorts
of negative news have come out, the biggest being that ex-convict Barry
Minkow has published a 500 page negative report on USANA basically
saying it’s a fraud, and the SEC has opened up an investigation into
USANA. There were also new class action lawsuits announced late last
month.
