Rakon hits 2-year low as global telco slowdown threatens earnings

The demand for 5G networks is there. Just not right now. (Image: DepositPhotos)

Tue, 31 Oct 2023

Rakon shares hit a two-and-a-half-year low on fears the global slowdown in telecommunications infrastructure will weigh on the domestic high-tech components maker’s earnings.The shares dropped 5.8% to 65 cents on Monday, the lowest level since January 2021, after Forsyth Barr analysts James Lindsay and Will Twiss said they anticipate Rakon will miss its annual forecast for earnings before interest, tax, depreciation and amortisation (Ebitda) as top-tier telecoms companies content with soft activity. Rakon had been forecasting Ebitda...

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