A surprise downgrade from Bell Potter sent Cettire shares down 16 per cent, with its house broker no longer recommending its clients buy shares in the luxury marketplace.
Cettire’s market capitalisation has been under pressure since The Australian Financial Review raised questions about whether the ASX-listed company was paying appropriate duties in Australia and the United States, its largest markets.
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Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at carrie.lafrenz@afr.com
Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
