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
$1.32 |
Change
0.020(1.54%) |
Mkt cap ! $1.481B | |||
| Open | High | Low | Value | Volume |
| $1.33 | $1.39 | $1.32 | $22.02M | 16.37M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 162940 | $1.32 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.32 | 29198 | 3 |
View Market Depth
| Last trade - 16.10pm 13/06/2024 (20 minute delay) ? |
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Last
$1.32 |
Change
0.020 ( 1.55 %) |
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| Open | High | Low | Volume | ||
| $1.31 | $1.39 | $1.31 | 6256778 | ||
| Last updated 15.59pm 13/06/2024 ? | |||||
| ZIP (ASX) Chart |