Why the Jupiter Mines (ASX:JMS) share price tanked over 7% today

Jupiter Mines Ltd (ASX: JMS) share price was down a whopping 7% today before recovering. The negative movement came after the company announced it would indefinitely delay its announced demerger.

At the time of writing, the mining companies share price is at 34 cents – down from yesterday’s close of 35 cents a share.

This drop is a distinct contrast to the 1.7% rise in the S&P/ASX All Ordinaries Index.

How today’s news is affecting Jupiter Mines share price?

In an announcement to the ASX Jupiter Mines advised it was delaying the spinoff of proposed company Juno.

Juno, which was to be an iron ore focused company, was overwhelmingly…