Tyro’s shares tank after loss deepens
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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