Why is Żabka stock collapsing today?
Investing.com -- Shares of Żabka Group SA plunged 10.3% to trade at PLN 27.95 during today’s session after Seven & i Holdings, the Japanese operator of the 7-Eleven convenience store network, confirmed it had ended negotiations to invest in Poland’s largest convenience retailer, citing an inability to reach agreement with the seller on terms it considered most favorable for its own shareholders and stakeholders. The announcement, which was made public on Saturday while the Warsaw Stock Exchange was closed, gave investors no opportunity to react until Monday’s open, when a wave of selling immediately hit the stock.
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Investing.com -- Shares of Żabka Group SA plunged 10.3% to trade at PLN 27.95 during today’s session after Seven & i Holdings, the Japanese operator of the 7-Eleven convenience store network, confirmed it had ended negotiations to invest in Poland’s largest convenience retailer, citing an inability to reach agreement with the seller on terms it considered most favorable for its own shareholders and stakeholders. The announcement, which was made public on Saturday while the Warsaw Stock Exchange was closed, gave investors no opportunity to react until Monday’s open, when a wave of selling immediately hit the stock. The move essentially erases the roughly 20% gain Żabka shares had accumulated since July 16, when Nikkei first reported that Seven & i was in the final stages of talks to buy a double-digit stake worth several hundred billion yen. Adding to the pressure, Citi had already downgraded the stock to Sell on July 23 with a price target of PLN 25.00 — a call that had already begun weighing on sentiment — and today also marks Żabka’s dividend record date, which can exert additional mechanical downward pressure on the share price.
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- Investing.com -- Shares of Żabka Group SA plunged 10.3% to trade at PLN 27.95 during today’s session after Seven & i Holdings, the Japanese operator of the 7-Eleven convenience store network, confirmed it had ended negotiations to invest in Poland’s largest convenience retailer, citing an inability to reach agreement with the seller on terms it considered most favorable for its own shareholders and stakeholders. The announcement, which was made public on Saturday while the Warsaw Stock Exchange was closed, gave investors no opportunity to react until Monday’s open, when a wave of selling immediately hit the stock.
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- 1 outlet, average source rating 6.0/10.
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- 8m ago.
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Why is Żabka stock collapsing today?
Sources1TypeCoverageInvesting.com · Stock Market