THL plunges on profit downgrade

May 06, 2024 10:00 AM AEST | By Team Kalkine Media

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Tourism Holdings Rentals, a major player in the tourism industry, has experienced a substantial decline, with its stock plunging by 37 percent. This dramatic drop has resulted in a staggering loss of $200 million from its market capitalization. The downturn follows a profit warning issued by the company on Monday, signaling significant challenges ahead. This sharp decline in share value underscores the severity of the situation and the impact of the profit warning on investor sentiment. As Tourism Holdings Rentals grapples with these challenges, it faces increased scrutiny and pressure to address underlying issues affecting its performance in the market.

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