Trade Me shares sink near six-month low, falling out of favour with analysts

Tue, 08 Aug 2017

By Paul McBeth Aug. 8 (BusinessDesk) - Trade Me Group shares fell near a six-month low after two research houses downgraded their rating for the online retail platform's stock. The shares fell as low as $4.85 and were recently down 6.1 percent to $4.90 after Deutsche Bank downgraded the stock to a 'sell' rating with a price target of $4.30 and Macquarie Research lowered its recommendation to 'underperform' with a $5 price target. Trade Me shares have slumped about 12 percent since July 25, a day after reports emerged Amazon had settled o...

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