MA Financial Group is unsure as to why its share price tumbled more than 20 per cent in the opening hour of trading this morning.
Shares in MA Financial fell 20.6 per cent to $4.05 before it was placed into a trading halt by the ASX following "a significant increase in volume" and a sharp fall from Friday's high of $5.17.
MA Financial says while it has no news to disclose to the markets, it note comments made about the outcome of a visa review might have been behind the plunge.
"We note comes about the potential outcome of the federal government’s review into the immigration system and its visa programmes including the Significant Investor Visa (SIV)," it says.
MA Financial also reconfirmed its FY22 guidance for 30 per cent to 40 per cent underlying earnings per share growth on FY21
