Market is not reacting well to the outage. Forget short-seller, a new problem has been disclosed.
A friend of mine who's well knowledged about this industry says that there's no loyalty in this industry and banks markets their products as being reliable. CBA has gone to town with their marketing campaign and they also give additional perks.
Savings a few hundred dollars over a year period doesn't mean much if it gets nullified in a day, for a merchant.
Two main issues :- 1. Legal settlements caused by outage 2. Unprofitable business
Get ready for capital raise shareholders if there's capital spend needed to win back trust.
Unsure where this will go now. It isn't fair on Tyro but market will teach them a hard lesson.
This is so unfortunate.
TYR Price at posting:
$2.67 Sentiment: None Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)