Ann: General Meeting Presentation, page-43

It would be a brave investor to assume the bottom is in for HLF. Could have/should have been in from May '19 all the way down to now. Nothing seems to arrest this decline - and I have the feeling (a 'vibe' only) that nothing will!
We have had enough of an idea of 'possible future earnings' for a while. It should have turned. Instead it just heads lower. SP absolutely tanks on news of an acquisition that, if all was right in HLF world, would signal onwards and upwards. Beyond my knowledge to say why things are as they are, although I suspect some kind of dirty tricks. I would also advise taking no notice of the T posters, who are so relentlessly optimistic it's suspicious.
Again a vibe, but I reckon it is highly likely that someone will swoop in with a TO, and all of the LTHs will lose out.
I do hope I am wrong!