Payments company Tyro has suffered a major sell-off after it said COVID-19 lockdowns “significantly impacted transaction value growth” in the first half and as technology stocks were battered on the ASX on Monday.
Tyro shares sank 26 per cent to $1.61 in mid-afternoon trade, as its spending caused the company’s overall losses to deepen to $11.2 million on a normalised basis from $2.8 million in the corresponding period the year before.
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Ayesha de Kretser is a senior reporter with The Australian Financial Review covering the aviation and tourism sectors. She has previously reported on banking, mining and commodity markets. Connect with Ayesha on Twitter. Email Ayesha at ayesha.dekretser@afr.com.au
