Cettire founder Dean Mintz has emerged as the buyer of almost $16 million of the company’s stock in the last two days, purchases that have propped up the share price despite the failure of auditors to sign off on the luxury fashion retailer’s accounts.
But the end of Mr Mintz’s acquisition spree pushed Cettire shares 12 per cent lower on Wednesday, capping a week-long rollercoaster ride for investors that began with a 20 per cent fall when the company released unaudited accounts on August 29. The shares rebounded 50 per cent over Monday and Tuesday.
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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
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
