Medifast Inc. (MED) Falls 14% On Surprise CFO Exit

Medifast Inc. (NUSE:MED) shares fell by more than 14% today as news surfaced that the firm’s acting Chief Financial Officer, Edward Powers, planned to resign on or before January 4. The executive said he was resigning in order to pursue interests outside of the company.

The news was broken by The Wall Street Journal earlier today. The firm’s shares opened today at $28.59, but have since fallen steadily. At time of writing, the firm’s shares stands at around $25.34.The magnitude of the fall is probably due to the unstable nature...