Business
Is it time to buy?
The MyDeal.com.au Ltd (ASX: MYD) share price was out of form again on Tuesday despite a rebound in the tech sector.
The ecommerce company’s shares fell 2.5% to end the day at 93 cents. This compares to a gain of almost 2.5% by the S&P/ASX All Technology Index (ASX: XTX).
This latest decline means the MyDeal share price is now down 22% since this time last month. It also means that the company’s shares are now trading 7% below its October IPO price of $1.00.
Why is the MyDeal share price under pressure?
The recent weakness in the MyDeal share price appears to have been driven by weakness in the tech sector due to rising bond…
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