It has been pointed out that under continuous disclosure rules a company is required to inform the market as soon as is practicable of any matter which a reasonable person might expect would cause a material difference to the value of the company's shares. Closing down a division 1 week before the quarterlies (which are a cashflow and activities report) and not informing the market falls well within that.
I think the market agreed today - ZIP tanked.
It doesn't matter - ZIP is only a trader's plaything, the hedge fund traders probably knew anyway, which is why the shorts have piled in, but the poor folk who sit around expecting ZIP to report and behave like a listed stock have been let down.
Sale of ZIP Canada, page-37
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 (20min delay)
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Last
$1.26 |
Change
-0.010(0.79%) |
Mkt cap ! $1.419B | |||
| Open | High | Low | Value | Volume |
| $1.28 | $1.29 | $1.26 | $7.825M | 6.159M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 36170 | $1.26 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.27 | 124309 | 5 |
View Market Depth
| Last trade - 16.10pm 20/05/2024 (20 minute delay) ? |
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Last
$1.26 |
Change
-0.010 ( 0.73 %) |
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| Open | High | Low | Volume | ||
| $1.28 | $1.29 | $1.26 | 1817944 | ||
| Last updated 15.59pm 20/05/2024 ? | |||||
| ZIP (ASX) Chart |