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Eddie Stobart's shares plunge on return to the market

The shares have been suspended since August, and it seems investors were in no mood to welcome them back to the market
Eddie Stobart's shares plunge on return to the market

It has been an eventful six months for Eddie Stobart Logistics (ESL). The shares were suspended in August after a review of its accounting practices led to a signicant profit warning and the departure of the chief executive. They were reinstated with the announcement of the half-year results in late February. So, while much of the details outlined in the results had already been flagged in mid-November, the more than 90 per cent share price plunge can be seen as the crystallisation of a half-year of investor frustration.

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