A2 shares plunge as Chinese regulator flexes its muscles

A Citi analyst recently reiterated their ‘sell’ recommendation for A2, now led by David Bortolussi. (Image: Supplied)

Mon, 26 Jul 2021

New Zealand's main share index fell half a percent with A2 Milk plunging more than 6% when the Australian stock exchange opened at midday on fears of Chinese regulation. The S&P/NZX 50 Index fell 63.09 points, or 0.6%, to 12,673.23. Turnover was $136 million.Infant formula marketing firm, A2 Milk Company led the market lower as it dropped 6.4% to $6.68. The stock has fallen more than 10% across the past three trading sessions down from $7.43.That's still well ahead of analyst valuations, such as Jarden which values the stock at...

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