Gentrack loses investor support with vague downgrade

Thu, 16 Jan 2020

Gentrack shares continued their downward spiral after yesterday’s savage sell-off when almost 5 percent of its shares changed hands.The stock dropped to as low as $2.60 and was recently down 7.6 percent at $2.67, adding to yesterday’s 26.7 percent slump after the utilities software developer said it was reworking its forecasts because of losing major customers in Britain and because it was finding the tough market conditions were even worse than anticipated.Peter McIntyre, an investment adviser at Craigs Investment Partners, said operating in r...

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