The Bingo Industries Ltd (ASX: BIN) share price has climbed 9% to $1.33 and is now up around 15% in just 3 days since closing at $1.17 on February 18.
However, anyone who's not been camping in Woop Woop for the last two days will know Bingo lost 46% of its value on February 18 from $2.30 per share to $1.17 after handing in a shock profit warning.
In its warning Bingo told investors that it now expected flat underlying EBITDA for fiscal 2019 compared to prior guidance for growth in EBITDA between 15%-20%.
The waste disposal business blamed the giant downgrade on softer residential construction projects, no price rises, and costs around "reconfiguring" some of its recycling facilities in NSW and Victoria.
Bingo is also attempting to get approval from the competition regulator to complete a $577.5 million takeover of rival rubbish collector Dial A Dump. Its even offered to sell an eastern Sydney recycling plant in an attempt to allay the ACCC's concerns that a takeover would reduce competition in Sydney in particular.
Elsewhere TPG Telecom Ltd (ASX: TPM) is also frantically working to get its merger with Vodafone Australia approved by the ACCC.
