Business
Here’s why the GetSwift (ASX:GSW) share price dropped by 11% today
GetSwift Ltd (ASX: GSW) shares plummeted today after the company announced it received a letter from the Federal Treasurer of Australia, Josh Frydenberg. The letter was advising the Treasurer’s views on the company’s proposed plans to re-domicile itself in Canada. By the close of trade, the GetSwift share price had plunged by 10.94% to 28.5 cents. This came after the company this morning reported Mr. Frydenberg’s letter has effectively blocked the company’s plans to delist itself from the ASX, pending the conclusion of its court cases.
What’s the background behind this?
The GetSwift share price has plunged since September when the company announced it was planning to delist itself from the ASX, and list its shares with an…
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