Business
Why the a2 Milk Company (ASX:A2M) share price crashed 26% lower today
The A2 Milk Company Ltd (ASX: A2M) share price has returned from its trading halt and crashed lower on Friday.
In afternoon trade the infant formula and fresh milk company’s shares dropped a disappointing 26% to $9.82.
Why is the a2 Milk share price crashing lower?
Investors have been selling the company’s shares this afternoon following the release of an update to its guidance for the first half and full year of FY 2021.
According to the release, the company has experienced a more significant and protracted disruption in the daigou channel than expected. Given that this channel represents a very large proportion of its infant nutrition sales in its ANZ business, this has had a negative impact on its sales.
In addition, while…
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