Billabong yesterday hit it lowest stock price since going public, losing 22 percent to 63 Australian cents on worries about the news that maybe coming out as the March 28, 2013 offer deadline approaches, according to a story on Bloomberg.
“Volume today is quite heavy which suggests that something might be up,” said Anson Rosewall, an institutional dealer at BBY Ltd. in Sydney. “It may have been operator error, the second thing going round is that there’s going to be no bid.”
That may have been why Billabong has placed the stock in a trading trading halt “until the commencement of normal trading on Monday, 25 March 2013, or when the announcement is released to the market.” Wonder what the news will be?
[Link: Bloomberg and MarketWatch]
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