Guzman y Gomez’s big ASX mistake as share price hits near-record lows
Guzman y Gomez’s big ASX mistake as share price hits near-record lows
#breakingnews #guzmanygomez #mexican #shareprice #finance
When Guzman y Gomez listed on the Australian share market in June last year, euphoria kicked in.
The Mexican fast-food chain’s share price shot up from $22 to $43 – a 95 per cent increase in the space of a few months.
Investors crowded in, buoyed by Guzman’s growth in Australia and its bid to break into the US market. Going public was meant to fuel that overseas expansion.
Guzman y Gomez was a share market darling and its value swelled to almost $4 billion.
Since those highs, however, it’s been a different story – a long and at times sharp tumble to record lows. The company was trading around $24 on Tuesday.
A Guzman y Gomez spokesperson said the company was committed to “creating long-term value for our shareholders, striving to deliver generational returns”.
There had been a steep change in the guest experience and a significant improvement in sales momentum in the US, particularly in the second half of FY25, the spokesperson said.
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