Guzman y Gomez Shares Dip to IPO Price as Sales Growth Slows
Shares of Guzman y Gomez Ltd. tumbled the most since their Sydney listing last year after the Mexican-themed fast-food chain flagged a sales slowdown at its Australian restaurants.
The stock plunged as much as 24% in Sydney, at one point touching its A$22 initial public offering price. By the time the shares closed down 18% at A$23.70, about A$543 million ($348 million) had been wiped from the company’s market value.