Business
Why did the Synlait (ASX:SM1) share price drop 2% then enter a trading halt today?
The Synlait Milk Ltd (ASX: SM1) share price was trading down almost 2% at $4.61 this afternoon when the company requested a trading halt of its shares on the ASX.
Today’s drop follows a decrease of nearly 6% in the Synlait share price yesterday.
So what’s happening?
Yesterday’s share price drop prompted Synlait to release an announcement to the market. In that announcement, Synlait noted that one of its biggest customers, the a2 Milk Company Ltd (ASX: A2M), had entered into a trading halt after becoming aware of information affecting its previously issued guidance.
Put simply, the Synlait share price has been impacted by what’s happening to its customer, a2 Milk.
The a2 Milk shares returned from trading halt today, with its…
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