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DX crashes out

Shares in DX lost nearly three-quarters of their value in a single day's trading.
November 16, 2015

Parcels and documents courier DX (DX.) might have snuck out a profit warning in the middle of day, but that didn't stop the shares plunging 70 per cent from just over 80p to their current level of 24p.

IC TIP: Sell at 24p

Chief executive Petar Cvetkovic said it was "very disappointing" to let investors know the group wouldn't meet profit forecasts for the current financial year. Revenue during the first four months also trailed last year by 5.3 per cent. Worst of all, however, the group will only muster a 2.5p dividend for the year ended 30 June 2016.