Here’s why Bingo (ASX:BIN) shares are dropping today

The Bingo Industries Ltd (ASX: BIN) share price is having a bleary day today. At the time of writing, its shares are trading for $3.14 apiece, a drop of 1.72%.

The Bingo share price opened at $3.19 this morning and rose as high as $3.21 before sharply dropping off around 11 am.

That drop appears to be a late response to the earnings report Bingo delivered to investors this morning. This earnings report covers the first half of FY2021 (the 6 months ending 31 December 2020).

What is Bingo?

Think bins, not meat trays here. Bingo, along with its rival Cleanaway Waste Management Ltd (ASX: CWY), is one of the largest waste collections and processing companies on the ASX.

Bingo is known for its commercial and industrial waste collections…