The Corporate Travel Management Ltd (ASX: CTD) share price is on watch today after booking a 26.5% decline last week to earn the title of the worst performing S&P/ASX 200 share.
Investors staged an exodus after hedge fund VGI Partners produced a scathing short sellers report, identifying significant concerns it had about the company’s operations.
Corporate Travel’s response was swift and comprehensive, but CTD shares have kicked off the trading week in the red today regardless – down 3.8% to $19.54 at the time of writing.
Seven West shares are up 1.5% to 77c per share at the time of writing with Nine shares still on the slide by 2.2% to $1.65.
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Motley Fool contributor Carin Pickworth has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Corporate Travel Management Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.