QEX shares tumble after suspected $4m heist

Wed, 28 Oct 2020

QEX Logistics' shares fell 23 percent after the company said a $4 million inventory heist in Shanghai may have a material impact on its earningsAccording to QEX, the stock was removed from its secured China Custom’s bonded warehouse without the company’s authorisation and it considers the inventory has been stolen.The shares last traded at 36 cents and are down 55 percent so far this year. The logistics company exports Kiwi products such as baby food and health supplements to individual Chinese consumers. The bonded warehou...

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