Shares of Tyro Payments suffered a 16.7 per cent loss on Wednesday and hit a record low after the surprise departure of CEO Robbie Cooke, who quit to run The Star Entertainment Group, owner of Sydney’s Star casino.
Tyro tumbled to an all-time bottom of 62¢ during the session, finishing at 65¢ after Mr Cooke handed in his six months’ notice. The Star shares added 3.3 per cent to $2.80, mirroring a jump by casino stocks on Wall Street that rallied in response to China cutting isolation requirements to seven days.
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Vesna Poljak is the Companies editor. She was previously the Markets editor with a special interest in the investment industry, hedge funds and accounting. She is based in the Sydney newsroom. Connect with Vesna on Twitter. Email Vesna at vpoljak@afr.com
