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04 Dec 2018

BY Rob Gill

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TRFBLI

Thomas Cook’s shares plummet again

Tour operator’s shares have fallen by more than one-third this week following the company’s “disappointing” results last week.

Thomas Cook A330.jpeg

The company’s shares fell as low as 19.6p in early trading on the London Stock Exchange on Tuesday (December 4) – down from 30.9p at the start of the week.

 

Cook has come under attack from “so-called” short-sellers – a type of investor who aims to profit from the fall in the value of a company’s shares.

 

Last week, Cook was forced to issue its second profit warning in two months just two days before it released its annual results on Thursday (November 29).

 

Cook revealed a £163 million post-tax loss for the 2017-18 financial year despite increasing revenue by £500 million to £9.6 billion.

 

The company’s shares were valued at £1.20 in November 2017 but had fallen to 30p by the end of last week.

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