Eroad shares bounce higher after company says stock price didn't reflect its value

Wed, 05 Oct 2016

By Tina Morrison Oct. 6 (BusinessDesk) - Shares in Eroad bounced from a record low after the logistics and fleet management company said its stock price didn't reflect the underlying value of the business. The Auckland-based company's stock hit $1.45 yesterday, the lowest since the shares first publicly traded on the bourse at $3.32 in August 2014, after being sold to investors at $3 apiece. The shares have lost a fifth of their value this year, and jumped 20 percent to $1.83 in trading this morning, making them the biggest gainer on the...

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