Sports Direct shares crash after results chaos
Shares in beleagured Shirbrook retail giant Sports Direct slumped by a quarter yesterday morning before rallying.
The firm’s share price by 27% to 166.6p when trading opened yesterday (29 July) before rallying to 208.5p – still a drop of almost 10%, meaning almost £100m has been wiped off the value of the company.
By the end of the day, Sports Direct’s share price was still in the doldrums, closing down 15p at 214.8p.
The collapse comes after Friday’s calamitous results announcement which its finance boss step down and the company’s profits plunge by 9%.
Sports Direct also revealed that it has been hit with a £605m tax bill from Belgium, meanwhile Mike Ashley said he regrets buying House of Fraser and that there should be drug tests for CEOs and CFOs of listed companies.
